Purely Pensions, operating through Purely Financial Ltd, is an active FCA-authorised pension transfer specialist with both UK and international clients. If you were advised by Purely Pensions to transfer a DB pension, FOS and civil routes may be available.
Start your free assessment →Purely Pensions (Purely Financial Ltd) is an FCA-authorised firm specialising in pension transfer advice, with a client base spanning both UK domestic and international expat markets. The firm has signed off significant volumes of defined benefit pension transfer recommendations during the 2015–2022 period.
Purely Pensions appears in the Route 4 evidence base in the context of its role as a UK FCA-authorised firm countersigning DB transfer recommendations arranged by overseas advisory networks. Under the Pension Schemes Act 2015, s.48, a transfer from a DB scheme of more than £30,000 requires sign-off from a FCA-authorised specialist. In some cases, this role has been described as a "rubber stamp" function where the substantive advice was given by an overseas unregulated entity.
A formal DISP complaint to Purely Financial Ltd is the required first step. Purely must respond within 8 weeks.
The FOS has jurisdiction over DB pension transfer suitability complaints against Purely Financial Ltd where the advice was unsuitable — including where the critical yield analysis was flawed or capacity for loss not assessed.
The six-year FOS absolute clock runs from the date Purely Pensions gave or countersigned the transfer recommendation. Act immediately to preserve your complaint rights. See redressadvisory.com/time-limits for the full limitation framework.
A Pension Transfer Specialist (PTS) is a firm or individual FCA-authorised to give advice on transfers from defined benefit pension schemes. Under the Pension Schemes Act 2015 s.48, any DB transfer over £30,000 requires a PTS sign-off. Where Purely Pensions signed off your transfer, it is the PTS and bears full suitability responsibility.
Yes. The PTS firm that signed off your transfer bears full regulatory responsibility for the suitability of that recommendation regardless of who arranged the original advice. If the transfer was unsuitable, the PTS is liable.
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You can complain directly to the firm, refer to the Financial Ombudsman Service or apply to the FSCS — all completely free. If you use the free routes, you keep 100% of any compensation.
| Redress received | Max % | Max fee |
|---|---|---|
| Up to £1,499 | 30% | £420 |
| £1,500–£9,999 | 28% | £2,500 |
| £10,000–£24,999 | 25% | £5,000 |
| £25,000–£49,999 | 20% | £7,500 |
| £50,000 and above | 15% | £10,000 |
Compensation is paid directly to you. We invoice after you receive your compensation. You pay nothing if unsuccessful. Source: FCA PS21/18 (Chapter 2, Table 1) & CMCOB 5.2. Excl. VAT.
Compensation is paid directly to you. We invoice after you receive your compensation. You pay nothing if unsuccessful. Source: FCA PS21/18 (Chapter 2, Table 1) and CMCOB 5.2. Excl. VAT.
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Contact complaints@redressadvisory.com. If unresolved, refer to the Financial Ombudsman Service free of charge within 6 months of our final response.