The Financial Services Compensation Scheme (FSCS) is accepting customers' claims against Planet Pensions involving advice in connection with pension transfers into and from The Forthplus SIPP and The Optimus Retirement Benefit Scheme.
In a comment given to PA, the FSCS said Planet Pensions S.R.O. was a European firm acting in the UK under the FCA's passporting arrangements pre-Brexit. "At the moment we're still investigating the activities of the firm to understand if we're able to pay compensation under our rules," it added. Czech Republic-based Planet Pensions, formerly known as Square Mile Financial, provided some customers with unsuitable advice, advising them to transfer their pensions into the Forthplus SIPP. The firm went into liquidation in January 2021. Transferring your pension into a self-invested per...
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