1. You weren't given options
Many people have been advised into a quick purchase of an annuity, unaware of the other options available.
Your pension provider should have told you of your right to shop around. Amazingly, annuity rates can vary by up to 10%* for the same person shopping around between insurance companies.
2. You weren't aware of hidden charges
You may have chosen to do your homework online and visited a comparison site to get a choice of providers. What you may not have realised is how limited the choice actually was, and that some of the options had hidden brokerage charges built into the price.
3. You were in poor health but receiving a standard rate of pension income
Insurers design the pensions they pay out taking into account increased life expectancy. If you had an underlying health condition, were a smoker or had worked in a hazardous occupation, then you could have received an enhanced rate - effectively more money each month - to reflect the risk that you may not live as long. This should have been taken into account at the point of sale.
4. You were sold an annuity that will stop paying out when you die
Were you married or in a civil partnership when you came to retirement? Were you financially responsible for somebody else and did you want your loved ones to continue to receive an income even when you were no longer around? If this was not taken into consideration and you were sold a single life annuity when a joint life annuity was more suitable, then your loved ones may miss out on income.
5. You wanted your pension payments to keep up with inflation
You may well have wanted your pension payments to increase over time in line with inflation to allow for rising costs. If you weren't given this option, then there's a chance you were mis-sold your annuity.
What does all this mean to you?
Having read the statements above, you may feel you have cause for complaint. The fact is, if the quality of advice you received was poor, you deserve to be put in the position that you should have been..
What can you do to pursue a complaint?
There are two main options open to you. You can claim on your own, or use an expert like EMCAS. Understandably, you may want to know a little more about us - and whether we're right for you. If so, We'd Love To Tell You A Bit More About Ourselves - and why over 700,000 people have trusted EMCAS with their claims.
If, however, you're ready for us to pursue your claim, we're ready to help! If you've been mis-sold a pension annuity, we're only too happy to start working on your potential claim.
Request a call back from one of our friendly, down-to-earth advisers by Clicking Here. We'll call you back at a time convenient to you - and get your claim started.