‘220 claims against collapsed Lifetime SIPPS Company were received by FSCS within the last 2 months!’
The Financial Services Compensation Scheme has received a staggering 220 claims against collapsed Lifetime Sipps Company, a provider of personal pensions, within the last two months. Over £56 million in compensation claims have been received condemning the SIPP provider, claim Administrators Kingston Smith & Partners.
Around £22m of claims were from clients who have no insurance, while £34.5m may have insurance.
Claims against the Sipp provider were opened in April however the FSCS is yet to confirm any breakdown regarding the value of claims until they have been assessed. The cost of processing the claims has been estimated at £280,000 and will take approximately 375 hours to complete.
If you believe you have been given bad advice or misled in anyway, please get in touch with Claiming 4U for an informal chat.