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
Signup and gain exclusive members-only insights
- 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
