FSCS begins accepting claims against Guinness Mahon; already received 961 complaints

Entered administration in February

Sophie King
clock • 1 min read

The Financial Services and Compensation Scheme (FSCS) is now accepting claims against self-invested personal pension (SIPP) operator Guinness Mahon.

In a note published this morning (29 October), the FSCS said it was aware that many IFAs recommended GMTC [Guinness Mahon Trust Corporation] customers to transfer their pension into a Guinness Mahon SIPP. It added: "...

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 Pensions

Pension Schemes Bill investment mandation would have had 'serious consequences'

Pension Schemes Bill investment mandation would have had 'serious consequences'

Trustees expected to ‘breathe a sigh of relief’ at the House of Lords vote to remove the power

Holly Roach
clock 30 March 2026 • 1 min read
Lords move to increase salary sacrifice cap to £5,000 'a pragmatic step'

Lords move to increase salary sacrifice cap to £5,000 'a pragmatic step'

Amendments will reduce or remove the impact of changes to salary sacrifice for most savers

Jonathan Stapleton
clock 12 March 2026 • 3 min read
Pensions minister Torsten Bell: Trust in pensions is 'too low'

Pensions minister Torsten Bell: Trust in pensions is 'too low'

Minister confirmed retirement CDC ‘will happen this year’

Holly Roach
clock 12 March 2026 • 1 min read