Lifetime Sipp has entered default and the FSCS are accepting claims
Hundreds of claims have already reached the FSCS following the declaration of Lifetime Sipp becoming default.
The Financial Services Compensation Scheme have already received around 400 claims and are expecting many more. These claims will shortly reach the claims teams for assessment.
Following the announcement of Lifetime Sipp going into liquidation in April, the FSCS began investigating the case for claims.
The Sipp provider has 3,600 unsecure creditors with liabilities totaling up to around £56.5m.
On the 14th June 2019, the FSCS stated that they have concluded their investigations into Lifetime Sipp. Their investigations focused on the due diligence levels within the firm before they allowed customers to make specific investments with their pensions.
There are protected claims against the firm at the FSCS at the moment.
The firm originally collapsed last year after receiving claims from clients with investments such as failed property scheme, Harlequin.
Have you been put in a worse off financial situation due to the activities of Lifetime Sipp?
If you would like to submit a claim but would like some support and assistance in submitting to the FSCS, we may be able to help.
Visit www.theclaimsbureau.co.uk/pension-claims to find out more.
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Information in this article was sourced from: https://www.ftadviser.com/pensions/2019/06/14/hundreds-of-claims-reach-fscs-as-sipp-declared-in-default/