Financial Services Compensation Scheme  

Pension advice firm defaults with two claims

Pension advice firm defaults with two claims
Pexels/Alexander Kovalev

A Shropshire-based advice firm which ceased trading 10 years ago has defaulted after receiving two claims over its pension transfer advice.

The Financial Services Compensation Scheme declared Plan Your Retirement Limited in default yesterday (January 11).

The lifeboat scheme told FTAdviser that neither claim relates to the British Steel Pension Scheme.

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The advice firm ceased trading back in January 2013, according to Companies House records. 

Its first set of accounts, published in 2016, showed a loss of £43,231.

This is the fourth advice firm to be declared in default by the FSCS this month.

Others include Midhurst Asset Management Limited, Nurture Financial Planning Limited and Cadogan Asset Management Limited.

These three firms are facing a collective 10 claims, relating to a mix of pension transfer and investment advice.