SIPP Claims

The calculation of mis-sold SIPPs involves assessing the financial losses incurred by the investor due to the inappropriate advice or mis-selling. We have created a pension loss calculator where you can see how much you could be eligible to claim in just a few easy steps.

To start the process to claim back money on your mis-sold SIPP, call us on 0800 061 4585 or email enquiries@returnmymoney.co.uk

We will guide you through the process and help you file a formal complaint with the financial institution or advisor involved in the mis-selling.

Hiring a solicitor is not mandatory for a mis-sold SIPP claim, but it can be beneficial depending on the complexity of your case and your comfort level in handling legal matters. Return My Money specialises in mis-sold SIPPs so we can provide expertise, guidance, and legal representation throughout the claims process, which can increase your chances of a successful outcome.

The duration of the mis-sold SIPP claim process can vary significantly depending on the complexity of the case, the responsiveness of the parties involved, and the workload of the regulatory authorities or financial institutions. Some claims may be resolved relatively quickly, within a few months, while others could take a year or more.

The average payout for a mis-sold SIPP compensation can vary significantly depending on various factors, such as the extent of mis-selling, the financial loss incurred, and the specific circumstances of each case. Compensation amounts can range from thousands to tens of thousands of pounds or more. It’s important to note that each mis-sold SIPP claim is unique, and there is no fixed or standard payout amount.

The maximum compensation amount will depend on various factors, including regulatory guidelines, the extent of mis-selling, and the financial loss you incurred. The Financial Services Compensation Scheme (FSCS) covers certain mis-selling claims and has a compensation limit of £85,000 per person, per firm.

In most cases, mis-sold SIPP compensation payouts are not subject to income tax. Compensation received as a result of financial mis-selling, including mis-sold SIPP claims, is usually considered a capital receipt and is not taxable. However, tax rules can vary depending on the individual’s circumstances and the nature of the compensation received.

Yes, there is usually a time limit, known as the statute of limitations, to make a mis-sold SIPP claim. In the UK, there is typically a six-year time limit from the date the mis-selling occurred or three years from the date of awareness of the mis-selling, whichever is later. Failing to make a claim within the specified time limit may result in the loss of your right to seek compensation.

Yes, you can potentially claim on SIPPs from the 70s, 80s, and 90s if you believe you were mis-sold and suffered financial losses as a result. In the UK,  the time limit is usually six years from the date the mis-selling occurred or three years from the date of awareness of the mis-selling, whichever is later.

Yes, if you believe you have been mis-sold a Final Salary Pension, you should consider making a formal complaint to the financial institution involved. If your complaint is not satisfactorily resolved, you may escalate the matter to the relevant ombudsman or regulatory authority.

Yes, your claim for a mis-sold SIPP could be unsuccessful. In that event, you may not receive any compensation, and the decision of the financial institution or regulatory authority is usually final. You can seek further advice or explore other options, but the outcome may not change.