The emotional impact of military pension mis-selling

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The UK military pension is one of the most reliable and robust in the world. It sticks with inflation and ensures that service personnel and their families are looked after once they leave the forces. But prior to 2016, thousands of service personnel were targeted and persuaded to move their valuable pensions into risky, unregulated, and unsuitable private schemes and scams.

If you are a veteran and you moved your military pension, you could have lost thousands of pounds. The good news is that we can help you get this money back. But there is another cost to military pension mis-selling that is not as widely talked about, and that is the emotional distress and upset caused.

The consequences of military pension mis-selling can be devastating

It is important to recognise and understand the potential consequences of military pension mis-selling.

Pension mis-selling can be financially devastating. But this scandal has also had a devasting effect on the mental health of many those involved, and this emotional impact should not be underestimated.

Theft can be a traumatic experience. People often feel shock, anger, fear, helplessness and panic. These feelings might develop immediately or be experienced much later. Whether theft happens with a stranger breaking into your home, or someone abusing your trust to steal from you in other ways, the consequences can be distressing. According to Victim Support:

“The effects of crime can also last for a long time, and it doesn’t depend on how ‘serious’ the crime was. Some people cope really well with the most horrific crimes while others can be very distressed by a more minor incident”.

We understand that, for many people, military pension mis-selling can cause or exacerbate anxiety, stress and other psychological conditions. That’s why, as well as helping victims claim compensation for financial losses, it is also important that veterans get help to deal with the lasting effects of psychological suffering and anguish.

MOD pension mis-selling help & support

KP Law is committed to helping military personnel, veterans and their families recover from Armed Forces pension mis-selling. To provide support at this difficult time, we have collated a list of organisations that might be able to help with any mental health issues caused by this experience. You can access these resources here. 

We are also proud to work with Ollie Ollerton, special forces soldier and star of SAS: Who Dares Wins. Ollie is an ambassador of Rock2Recovery, a free service for serving members of the Armed Forces, veterans of the Armed Forces, and their families. Its mission is to save and change the lives of those who are affected by stress.  

We will help you fight back

We are helping those affected by military pension mis-selling to claim compensation for their losses. We believe that those affected could be owed hundreds of thousands of pounds.

Many people still do not know that their pension was affected by this scandal, especially if their current pension pot seems healthy. Our expert fraud and investment mis-selling lawyers can help you find out if your armed forces pension was mis-sold. Crucially, if you were advised by a financial adviser who was regulated in the UK to transfer your military pension to a SIPP or QROPS, this increases the chances of us being able to make a successful claim on your behalf.

Moving a military pension is rarely advisable. So, if you are worried that you might have been mis-sold, contact us to find out how we can help you.

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