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...

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