How to stop creditors chasing you for money after two pension providers go into administration

Ad Feature by The Claims Bureau Ltd
Published 24th Mar 2023, 07:00 BST
As Rowanmoor SIPP and Hartley Pensions go into administration, creditors will still chase for money – unless you get expert helpAs Rowanmoor SIPP and Hartley Pensions go into administration, creditors will still chase for money – unless you get expert help
As Rowanmoor SIPP and Hartley Pensions go into administration, creditors will still chase for money – unless you get expert help
As Rowanmoor SIPP and Hartley Pensions go into administration – what difference will this make to pension investors? The simple answer is that someone else will be chasing you for money, unless you get expert help

When thousands of people invested their pensions into schemes that promised huge returns and good investments, these schemes often failed leaving nothing but empty promises, no future financial security and ever-increasing recurring invoices.

The schemes varied from car parks to storage pods and property – and what started off as a good idea rapidly ultimately turned into a nightmare.

Many firms have managed to secure compensation for these investors but they have still been left with an empty pension pot, as well as significant recurring annual administration fees.

Two of the largest pension operators have now gone into liquidation, leaving people uncertain about what is happening with their pensions and whether they will continue to be charged.

Why debts will still be collected

One of the administrators has already started the process of selling the client book, which means that the debts will now become an important financial asset as part of the liquidation.

The reality is that these fees are contractually owed and will be collected by someone, whether it is the liquidator, purchaser of the client base or a debt collection agency.

It is worth remembering that when the historic debt has been cleared, the pension will still be classed as active and continue to accrue further bills.

Relief of an upheld claim

Chris Sharman, the Sales Manager at The Claims Bureau explains: “When we speak to clients and inform them that their claim has been upheld, they are so excited and relieved.”

He added: “Now we are able to offer the closure of the pension, we are essentially putting the client back to the position they were in before the investment debacle happened.”

If you, or someone that you know, finds themselves being affected by this issue, please give the team a call on 01903 868251 or visit www.tcbpension.group/pensionclosure. A 10-minute call would help to establish whether you can get further compensation and explain how the process works.