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Pension Complaint - Our Service


Congruent's actuarial consultants are experts in the complaint handling of pension and investment products. Our team includes recognised experts in the industry for their specialism in financial complaints and disputes. We can resolve the complex issues regularly associated with pensions and any redress/compensation due for misadvised or missold financial advice.

Congruent is the only actuarial firm that can help you with your pension complaint*. Our consultants have over 20 years of industry experience assisting individuals and businesses with their financial services and product complaints. Congruent has been providing a claims management service and redress calculation solutions for over 5 years.

* Congruent Actuarial Limited is the only claims management company included in the list of actuarial firms published by the Institute and Faculty of Actuaries.

Pension Complaints

Individuals have a need for independent financial advice when it concerns arrangements to be made for future pensions.  This is particularly true for pension transfers where there is a regulatory requirement for anyone who wishes to convert safeguarded benefits that are worth more than £30,000, e.g. a defined benefit pension, to a flexible arrangement, e.g. those provided by a personal pensions plan (SIPP).  Unfortunately, not all financial advice is compliant and poor advice may lead to a significant loss for the individual.

Individuals can pursue a claim directly and refer a complaint to the Financial Ombudsman Service. Alternatively, they can use a specialist claims management company, such as Congruent, who understand the complexities surrounding pensions and complaints – a ‘no win, no fee’ option may also be available following an assessment of the case.

Speak to one of our consultants (contact us) for a no obligation and confidential chat about your case and we will advise you on the best course of action.

DB Pension Transfer Complaint

In a recent study the Financial Conduct Authority (“FCA”) determined that only 47% of pension transfer advice was suitable - which prompted it to launch a consultation on pension transfers. This resulted in the FCA changing the rules concerning advice on pension transfers with safeguarded benefits.  As well as the adviser requiring specialist qualifications, the FCA changed the rules around the Transfer Value analysis and the Critical Yield calculation and now requires advice firms to undertake:

  1. Appropriate Pension Transfer Analysis (“APTA”). Advice on giving up safeguarded benefits based on the individual client’s circumstances taking into account the differences between the benefits offered by the ceding scheme and the benefits being considered as an alternative to that scheme, irrespective of how those benefits are taken.
  2. Transfer Value Comparator (“TVC”).  This is part of the APTA and involves a projection of the ceding scheme benefits to normal retirement age and the estimated cost of purchasing those benefits then using an annuity.

Where there is non-compliant advice the respondent is required to offer redress to the individual. This involves the determination of “lost” safeguarded benefits – this is an actuarial calculation. Congruent is able to provide advice on the compliance of the advice and on the quantum of loss.  In particular, we have developed a dedicated redress calculation service.

SIPP Investment Complaint

When it comes to investing money held in a SIPP platform advice is not always obtained by the individual (as there is no mandatory requirement). Some reliance is placed by the individual on the FCA-regulated SIPP administrator to provide the necessary due diligence on the permitted investments.  Not all administrators perform the required due diligence - this has been highlighted in a recent high court decision where a complaint about a Financial Ombudsman decision was not upheld by the High Court (see our news item Berkeley Burke SIPP administrators on 4 November 2018).


Pension Complaints - Our Service








Frequently Asked Questions (FAQs)

Additional Information (links to external FCA website)

This service is provided under Congruent's general terms and conditions of engagement for financial products and services complaints which is available from our website under Financial Disputes.


Congruent Actuarial Limited is Authorised and Regulated by the Financial Conduct Authority as a Claims Management Company
Registered Office: 141-142 Fenchurch Street, London, EC3M 6BL, United Kingdom
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