Portafina to pay out for UCIS SIPP advice

Mrs E, as referred to by the Financial Ombudsman Service (FOS), held a personal pension plan (PPP) and had also accrued benefits in a defined benefit occupational pension scheme (OPS).  She transferred both pensions into a SIPP and then invested the majority (87.5%) of the funds into four different unregulated collective investment schemes (UCIS). In 2016, when she tried to take some pension benefits, Mrs E discovered the funds were illiquid and so made the complaint. An investigator at the time of the complaint said it should be upheld, as the investments contained within the SIPP we...