“Fraudsters and crooks” trying to get their hands on valuable military pensions

According to Ollie Ollerton, former UK special forces soldier, best-selling author, and star of SAS: Who Dares Wins, the military community has been “infiltrated by fraudsters and crooks” trying to get their hands on valuable MoD pensions.

• Many former service personnel have transferred their pensions into unsuitable private schemes
• They may have been targeted by unscrupulous overseas companies and unregulated salespeople
• Many military personnel have lost thousands because of transferring their pension.

Prior to 2015, thousands of former and current service personnel transferred their money out of the MoD pension scheme. All too often, they did this after being targeted by forceful overseas companies and unregulated salespeople. However, these salespeople did not explain the risks, and many servicemen and women have lost thousands of pounds as a result.  Many veterans were advised by UK financial advisers and transferred their valuable military pension into a UK personal pension plan or a SIPP.

Ollerton is working with Keller Lenkner UK to raise awareness of this issue and help those affected get back what they are due. Those affected could be owed hundreds of thousands of pounds.

Commenting on the military pension mis-selling scandal, Ollerton said: “Our military community has been infiltrated by fraudsters and crooks trying to get their hands on our valuable pensions.”

According to Mark Kenkre, head of investment fraud and mis-selling at Keller Lenkner UK: “We know that the risks and potential losses involved would not have been clearly explained as it is unlikely that these individuals would have moved their secure, and valuable, pensions elsewhere with the benefit of this information.”

He continued: “Ollie Ollerton understands the sacrifices made by military personnel throughout their career and is as passionate as we are about raising awareness of the scandal.

“Some military staff may not be aware that they have potentially lost thousands of pounds, particularly if their current pension appears to be doing well. Our campaign seeks to deliver redress for individuals who deserve to enjoy the full benefit of a military pension and who have been prevented from doing so.

“Crucially, if you were advised by a financial adviser who was regulated in the UK to transfer your military pension to a SIPP or QROPS, this increases the chances of us being able to make a successful claim on your behalf.”