SIPP Mis-selling

SIPP Mis-selling Claims — Were You Advised to Move Your Pension Into a High-Risk SIPP?

Was your SIPP invested in storage pods, overseas property, or unregulated funds? You may be owed compensation.

Check My Claim — Free Do I Qualify?

£85,000

Maximum FSCS compensation per claim

£125m+

Paid by the FSCS for unsuitable investment, pension and SIPP advice in 2025/26

6 years

Typical limitation window

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What is a mis-sold SIPP?

A SIPP is mis-sold when an adviser recommends moving your pension into a SIPP holding high-risk or unregulated investments without properly checking it suits you, or when a SIPP operator accepts such investments without proper checks. You can complain to the firm and then to the Financial Ombudsman (up to £455,000), or claim from the FSCS (up to £85,000) if the firm has failed. In 2025/26 the FSCS paid more than £125 million for unsuitable investment, pension and SIPP advice, and about £35 million for SIPP operator failures. Source: FSCS Annual Report 2025/26; Financial Ombudsman.

Do I Have a Claim?

Signs You May Have Been Mis-sold a SIPP

You may have a strong case if any of the following apply:

You were approached by telephone, email, or social media and persuaded to transfer your pension
You were advised to transfer from a workplace, final salary, or personal pension into a SIPP
Your SIPP invested in unusual assets — storage pods, overseas property, forestry, care home rooms, hotel rooms, green energy, loan notes, or bonds
You were not told the investment was unregulated or outside FSCS protection
The adviser or introducer received a commission that was not disclosed to you
You have not received the promised returns and cannot access your pension savings
Your SIPP operator has gone into administration or been declared in default by the FSCS
You were not asked about your attitude to risk, financial situation, or investment objectives

What Happened

A Self-Invested Personal Pension (SIPP) is a type of pension that gives you greater control over where your money is invested. In the right hands, they are legitimate financial products. However, between 2010 and 2020, thousands of people were advised — often by cold-calling unregulated introducers working alongside regulated financial advisers — to transfer their existing workplace or personal pensions into SIPPs that then invested in high-risk, unregulated, and often worthless assets. These assets included storage pods, overseas property schemes, carbon credits, forestry investments, hotel rooms, care home rooms, and a range of unregulated collective investment schemes (UCIS). Most of these investments collapsed, taking people's entire pension savings with them.

Why You May Be Owed Compensation

Regulated advisers had a duty under FCA Conduct of Business rules to assess suitability, explain risk, and only recommend investments matching your attitude to risk. Where they failed — or where they recommended unregulated investments without authorisation — you have a strong claim against the adviser, their firm, the SIPP operator (following the Berkeley Burke 'gatekeeper' determination), or the Financial Services Compensation Scheme (FSCS).

How Much Could I Claim?

The Financial Services Compensation Scheme (FSCS) pays up to £85,000 per eligible claimant where the adviser or SIPP operator has failed. In 2025/26 alone, the FSCS paid more than £125 million to people who received unsuitable investment, pension and SIPP advice (FSCS Annual Report 2025/26). Where your loss exceeds £85,000, we can pursue the balance through direct legal action against any solvent parties.

Who Is Liable?

Depending on your situation, you may have a claim against:

The independent financial adviser (IFA) — Who recommended the SIPP transfer in the first place.
The SIPP operator — Who accepted unsuitable investments without adequate checks. Following the Berkeley Burke FOS determination, SIPP operators have a 'gatekeeper' duty.
The unregulated introducer — If they were connected to an FCA-regulated firm.
The FSCS — Where the liable firm has been declared in default — up to £85,000 per claim.

Recent SIPP Mis-selling Cases

Berkeley Burke SIPP

FSCS declared in default on 1 April 2020; by May 2023 the FSCS was reported to have paid more than £58 million.

Rowanmoor Personal Pensions

Administration August 2022; FSCS declared in default on 15 December 2023 and accepting claims.

Guinness Mahon Trust Corporation

The FSCS had paid almost £40 million in compensation by September 2023.

Hartley Pensions

Failed 21 February 2024. The FSCS is not taking direct claims; it has funded the costs of moving customers' SIPPs.

How SIPP Mis-selling Happened

The typical SIPP mis-selling chain worked like this: an unregulated introducer contacted people — often by telephone, email or social media — and persuaded them they could earn higher returns by moving their pension into a SIPP. The introducer referred them to an FCA-regulated financial adviser, who recommended the transfer, and a SIPP operator then accepted the investment into the pension.

The Financial Ombudsman found that Berkeley Burke, a SIPP operator, should have carried out proper checks before accepting a high-risk investment into a client's SIPP, and in 2018 the High Court upheld that decision. As a result, claims can run against the adviser, the SIPP operator, or both.

Were You a Client of One of These SIPP Operators?

Rowanmoor Personal Pensions

FSCS Default: December 2023

Went into administration on 31 August 2022 and was declared in default by the FSCS on 15 December 2023. The FSCS is accepting claims.

Read our full Rowanmoor claims guide →

Hartley Pensions Ltd

FSCS Default: February 2024

Went into administration in July 2022 and was declared failed by the FSCS on 21 February 2024. The FSCS has funded the cost of moving customers' SIPPs rather than taking direct claims.

Read our Hartley Pensions guide →

Berkeley Burke SIPP

FSCS Default: April 2020

Declared in default on 1 April 2020. By May 2023 the FSCS was reported to have paid more than £58 million.

Read our Berkeley Burke guide →

Is It Too Late to Claim?

Most SIPP mis-selling claims must be started within six years of the advice, or within three years of when you found out (or should have found out) that something was wrong. That second date can be recent — for example, when you learned that Rowanmoor or Hartley Pensions had failed. Don't assume you are out of time; check whether you can still claim.

Firms recently added to the FSCS failed-firms list

If one of these firms advised you, the FSCS may pay compensation even though the firm can no longer pay you itself.

See the full list of failed pension and investment firms

How to Claim

1. Free Claim Check

Tell us about your investment in 60 seconds. We confirm if you have a claim.

2. We Investigate

We gather the evidence, file with the FOS, FSCS or adviser. No paperwork for you.

3. You Get Paid

Compensation paid directly. No Win, No Fee — we only charge if you win.

SIPP Mis-selling – Frequently Asked Questions

Is there a time limit to claim for SIPP mis-selling?

Yes. The primary limitation period is 6 years from the date you received the advice. However, if you only recently discovered your pension was mis-sold, a 3-year 'date of knowledge' extension may apply under section 14A of the Limitation Act 1980. Contact us immediately — do not wait.

Can I claim if the adviser or SIPP firm has gone bust?

Yes. If the firm was FCA-regulated, you can claim from the FSCS up to £85,000. If your losses exceed this, we can pursue any other parties in the chain.

I signed documents saying I understood the risks. Can I still claim?

Possibly yes. Signing a risk acknowledgement does not automatically waive your right to claim if the advice was unsuitable for your circumstances, or if the risks were not properly explained.

How long does a SIPP mis-selling claim take?

FSCS claims typically take 6–18 months. FOS complaints take 6–24 months. Court proceedings can take 2–5 years. We keep you informed throughout.

What if I'm already drawing my SIPP pension?

You may still be able to claim for the difference between what your pension is worth now and what it would have been worth had the mis-selling not occurred.

Do I need any paperwork to start a claim?

No. We can obtain records from pension providers, advisers, and the FSCS. All we need to start is your name, contact details, and the name of the firm that advised you.

Is SIPP mis-selling compensation taxable?

It depends on how the compensation is paid and when the advice was given. Compensation paid back into your pension is normally treated as part of the pension rather than as taxable income. Where it cannot go into a pension and is paid to you as cash, the Financial Ombudsman's usual approach reduces it to allow for the income tax you would have paid on the pension income. For Capital Gains Tax, the statutory exemption in section 148 of the Finance Act 1996 (HMRC CG13083) only covers advice given at least partly between 29 April 1988 and 30 June 1994, the original pension review period. Most SIPP claims concern later advice, which HMRC deals with under its general rules on compensation (CG13080), so the answer depends on your circumstances. Interest added to an award (the Ombudsman usually adds 8% simple a year) is normally taxable as savings income, and basic-rate tax is often deducted before you are paid. Confirm your own position with HMRC or an accountant; our guide to whether mis-selling compensation is taxable explains more. Source: HMRC CG13080, CG13083 and SAIM2340.

Do I need a solicitor to make a SIPP claim?

No. You can claim from the FSCS directly at fscs.org.uk, or complain to the firm and then the Financial Ombudsman, free of charge. A solicitor can help where several parties are involved, where there is a question over time limits, or where your loss is above the £85,000 FSCS limit.

Further reading. See our full guides on time limits for mis-selling claims, how compensation is calculated, and what evidence helps your claim. Not sure which route applies? Compare the FSCS and the Financial Ombudsman, estimate your compensation, or read how No Win No Fee works.