Residents in Scotland who have come from Central Europe a number of years ago should be wary of schemes to have them transfer any UK Pension entitlements from Employers particularly Union organised Companies, National Health Service, DSS and any large Organisations into Pension Schemes suggesting that significant additional income will be made above the traditional Pension fund.
Considerable activity is taking place in trying to encourage people to transfer their Pension. In many cases there have been Pensions transferred into very dubious schemes and some of these schemes have collapsed. Some of our clients have now found that significant Pension Funds with bodies such as Strathclyde Pension Fund or the Civil Service have effectively disappeared.
Some Financial Advisors have acted in good faith and have themselves been victims of quite wrongful actions. One or two have not been so honourable. If you have transferred a Pension Fund which is now showing significant loss (not simply due to the “Credit Crunch”) or funds have been transferred into Mining, Agricultural, holiday or car park ventures you may wish to contact us so we can ascertain whether you have been correctly and properly sold.
We are in contact with Solicitors who specialise in dealing with compensation in these areas, such as Colin Carr at Carr Berman Crichton Solicitors (see website).