Money Marketing published an article reporting on the British Armed Forces pensions mis-selling scandal. Ben Rees, Technical Director of the Investment Fraud & Mis-selling group, commented:
“A career in the services comes with endless sacrifices and it is our mission to secure compensation where military personnel have suffered a financial loss due to unlawful conduct or negligence.
“A military pension offers guaranteed pension payments for life, which rise with inflation as the veteran gets older, a guarantee that is extremely valuable. Moving a military pension is rarely advisable so military personnel should have been able to make an informed decision and provided with sound and appropriate advice before transferring out. Sadly, this appears not to have happened in this case and many thousands of veterans have lost significant sums of money.”
Ben Rees’ comments were published in Money Marketing, 6 January 2022, as well as in Professional Adviser, Pensions Age, and London News Today, 7 January 2022.
