Malta is home to a significant British expatriate community and was a major hub for international SIPP and QROPS mis-selling. British nationals living in Malta who transferred UK defined benefit pensions may be entitled to compensation through UK routes.
Start your free assessment →Malta’s status as both an EU member and a common law jurisdiction made it a favoured location for expatriate financial advisory operations during the 2010–2022 period. Adviser firms regulated in Malta under MiFID passporting arrangements targeted British expatriates with recommendations to transfer UK defined benefit pensions into SIPP and QROPS structures.
Many of these transfers were arranged by overseas advisory firms that were not FCA-authorised at the time. This creates FSMA s.27 rights for affected clients — the SIPP contract is unenforceable if the Malta-based introducer was not FCA-authorised, and the full transfer value is recoverable through civil court proceedings regardless of where the client lives.
Fletcher v Options UK [2024] EWCA Civ 541 confirmed UK FOS jurisdiction applies to overseas-arranged transfers into UK-regulated SIPPs. Malta-based British expatriates have access to UK compensation routes.
If you were advised by a firm operating from Malta to transfer a UK pension, a formal assessment will identify whether the firm was FCA-authorised at the time of transfer and which claim routes apply. Many Malta-based advisory operations qualify for FSMA s.27 civil proceedings uncapped by the FSCS limit.
Where the firm that advised you is still trading, a formal DISP complaint is the mandatory first step. The firm must respond within 8 weeks.
If the firm rejects your complaint or fails to respond, escalation to the FOS is free. The FOS has upheld 55–77% of DB transfer complaints nationally.
Where the adviser firm or SIPP operator has failed and been declared in default, the FSCS pays compensation directly.
£85,000 per firmWhere losses exceed the FSCS cap or FSMA s.27 applies, civil court proceedings may recover the full uncapped amount.
UncappedThe FOS applies a six-year absolute clock from the date of advice and a three-year awareness clock from when you first knew or ought to have known about your loss. Both clocks run simultaneously. For DB pension transfer advice given between 2015 and 2019, the six-year clock is now at or near expiry. Act immediately to preserve your claim rights. See redressadvisory.com/time-limits.
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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.
Cancel any agreement with us within 14 days of signing, without charge or obligation. No questions asked.
Contact complaints@redressadvisory.com. If unresolved, refer to the Financial Ombudsman Service free of charge within 6 months of our final response.