No cold calls — ever No upfront cost Compensation paid directly to you 14-day right to cancel FCA CMC authorisation pending
Pension Mis-Selling — Port Talbot

Pension Mis-Selling Claims — Port Talbot

Free assessment for DB pension transfer, SIPP, and QROPS mis-selling claims for Port Talbot steelworkers and BSPS pension mis-selling claims. Four regulated routes to compensation.

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The Local Picture

Port Talbot is the epicentre of the British Steel Pension Scheme (BSPS) mis-selling scandal. Thousands of steelworkers at Tata Steel's Port Talbot operations were approached by financial advisers during the 2017–2018 BSPS restructuring and encouraged to transfer guaranteed final salary pension rights into SIPPs.

The FCA found the advice given to Port Talbot steelworkers was systematically unsuitable. Multiple adviser firms that operated in Port Talbot and across South Wales are now in FSCS default — including Pembrokeshire Mortgage Centre, Active Wealth UK, and Celtic Wealth Management. The FCA's formal BSPS Redress Scheme (PS22/13) was established specifically to address this scandal.

Port Talbot BSPS — Key Adviser Firms

Firms that gave BSPS transfer advice to Port Talbot steelworkers. All in FSCS default.

Pembrokeshire Mortgage Centre (PMC)

FSCS Default — Port Talbot BSPS adviser

See claim page →

Active Wealth UK

FSCS Default — BSPS adviser

See claim page →

Celtic Wealth Management

FSCS Default — South Wales BSPS adviser

See claim page →

Which Routes Apply

Route 1

Direct Firm Complaint

Where the firm is still trading. Mandatory first step. 8-week response requirement.

£150,000 cap (pre-Apr 2019)£455,000 cap (post-Apr 2019)
Route 2

Financial Ombudsman Service

Free independent adjudication. 55–77% uphold rate on DB transfer cases nationally.

£150,000 cap (pre-Apr 2019)£455,000 cap (post-Apr 2019)
Route 3

FSCS Compensation

Where the firm has been declared in default by the FSCS. Direct claims open.

£85,000 per firm
Route 4

Civil Litigation

Where losses exceed the FSCS cap or FSMA s.27 applies. Uncapped recovery.

Uncapped
⚠ Time Limit Warning — Act Now

The FOS applies a 6-year absolute clock from the date of advice and a 3-year awareness clock from when you first knew about your loss. For advice given in 2018 or earlier, the absolute clock has expired — but FSCS, civil, and awareness clock routes may still be open. Obtain a formal assessment immediately. See redressadvisory.com/time-limits.

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No obligation · No upfront cost · We will never cold-call you

Redress Advisory Ltd is applying for authorisation as a Claims Management Company regulated by the Financial Conduct Authority. FCA reference: [to be confirmed on authorisation]. Company number: 17295681. Registered office: 20 Wenlock Road, London N1 7GU.
Your rights and our fees — in plain English
You do not have to use us

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.

Our fees — CMCOB 5.2 sliding scale, success only
Redress received Max % Max fee
Up to £1,49930%£420
£1,500–£9,99928%£2,500
£10,000–£24,99925%£5,000
£25,000–£49,99920%£7,500
£50,000 and above15%£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.

14-day right to cancel

Cancel any agreement with us within 14 days of signing, without charge or obligation. No questions asked.

Unhappy with our service?

Contact complaints@redressadvisory.com. If unresolved, refer to the Financial Ombudsman Service free of charge within 6 months of our final response.