Halliburton Group UK Pension Plan

Were you advised to move your Halliburton Group UK Pension Plan? If you were, you may have been mis-advised and suffered substantial “hidden losses” running into tens or even hundreds of thousands. The extremely valuable defined benefit final salary pension which Halliburton offered closed on 30 June 2009.

Beat the Banks continue to deal with many victims from Arbroath, Montrose and the surrounding areas who were referred by their local financial adviser to Kenny Simpson of the Independent Benefit Consultancy (the IBC) in Glasgow to move their Halliburton Group UK Pension Plan and other highly valuable workplace pension schemes to the Prudential. Typically, victims were placed with PruFund Cautious or PruFund Growth.

It wasn’t fully explained to victims the huge benefits and guarantees they were giving up by moving, instead they were hooked by the promise of a big tax-free cash payment and a pension pot to call their own. The Independent Benefit Consultancy completely failed to explain clearly to pension holders the massive downsides in transferring. The Independent Benefit Consultancy twice had their pension transfer permissions removed by the Financial Conduct Authority and they are now in liquidation.

In times of heavily fluctuating stock markets, it’s particularly brutal news for victims who have typically seen their fund sink in value. But that’s not even the half of it – fund and adviser fees running into thousands each year continually take huge chunks out of their pension, while raging inflation decimates the true spending power of their pot.

Remaining in the Halliburton final salary scheme would have meant absolutely no charges and a risk free and substantially inflation proofed pension for the rest of their days and that’s exactly where the “hidden losses” come in for those who were mis-advised to move.

If you were advised to move your Halliburton Group UK Pension Plan, we offer a free initial assessment, with absolutely no obligation, on the advice you were given. Claiming has no effect on your existing pension, a successful claim simply adds to your retirement savings. It couldn’t be easier, you get in touch with Beat the Banks and we do the rest. It really is that simple.

Finally, a word of warning if the Independent Benefit Consultancy did move your final salary pension. It’s clear substantial data has been stolen, or otherwise fallen into the wrong hands. Customers of Beat the Banks have been illegally called by Simon Adams Solicitors, a company calling themselves DB Redress and another claiming to be Smart Legal.

This highly illegal activity is in breach of the Data Protection Act 2018, it can also be seen as an attempt to denude the liquidator. Beat the Banks have passed substantial evidence to the liquidator of the Independent Benefit Consultancy, including extensive recorded calls. We would point out that fees charged by solicitors for financial claims are typically much more than those charged by fully authorised and regulated professional claims companies such as Beat the Banks.

Call our team on 01382 200474 or complete our on-line enquiry form