Rotherham's steel heritage and its proximity to Sheffield make it a significant area for pension mis-selling claims. British Steel workers and the broader South Yorkshire steel community were heavily targeted during the BSPS review period.
Start your free assessment →Rotherham has a deep steel industry heritage. During the BSPS transfer window of 2017–2018, steelworkers across South Yorkshire including Rotherham were approached by a wave of financial advisers offering “free pension reviews.” Many of these advisers recommended transferring out of guaranteed BSPS defined benefit pensions into SIPPs.
The FCA subsequently found that a significant proportion of BSPS transfer advice was unsuitable. Adviser firms operating in South Yorkshire during this period are the subject of FOS upheld decisions, FCA enforcement action, and FSCS default declarations.
If you were a BSPS member who transferred your pension on advice from a firm operating in the South Yorkshire region, a formal assessment will identify which claims routes remain available for your specific case and transfer date.
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.
No obligation · No upfront cost · We will never cold-call you
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.