Failed Liberty SIPP racks up almost 1,700 FSCS claims

Entered administration in April 2020

Sophie King
clock • 1 min read

Collapsed self-invested personal pension (SIPP) provider Liberty SIPP has received 1,696 claims against it, according to the Financial Services Compensation Scheme (FSCS).

According to a note published on Monday (25 January), the claim-embroiled SIPP provider officially failed this week after going into administration on 27 April last year following a number of high-risk non-standard investment claims against it. The FSCS said that no compensation has been paid out towards these claims yet. The note said: "We're aware that FCA-authorised independent financial advisers recommended many Liberty SIPP customers transfer their existing pensions into a Liberty SIPP. "Other customers made arrangements to transfer their pensions through unauthorised firms. A...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

FCA: Most firms unable to meet bereavement claims performance levels

FCA: Most firms unable to meet bereavement claims performance levels

Call for improved bereavement handling times

Cameron Roberts
clock 22 November 2024 • 3 min read
ETF providers launch unlisted share classes to tackle slow MPS adoption

ETF providers launch unlisted share classes to tackle slow MPS adoption

Technological and cost barriers

Valeria Martinez
clock 22 November 2024 • 5 min read
Advisers expect regulation to limit time taken on giving advice

Advisers expect regulation to limit time taken on giving advice

Industry expects it will constrain their ability to meet demand

Isabel Baxter
clock 22 November 2024 • 2 min read