Section 32 Buyout Contracts
The guaranteed financial solution that came with hidden risks too high for cautious investors.
Common problems with Section 32 contracts (also known as Pension Buy-Out Bonds) include:
- Lower benefits than the previous employer’s pension scheme would have paid (this is often the major complaint and claim).
- Investors can’t draw benefits ‘early’ (usually 65 for males, 60 for females).
- No Tax-Free Cash when benefits start to be taken.
- No possibility of a transfer to an alternative pension.
If you are already suffering any one of these problems, or think you may have been mis-sold a Section 32 transfer, call us without delay as strict time limits may apply.
However, it may still be possible to claim compensation if you are already drawing benefits from a Section 32 contract or if you have transferred away to an alternative pension policy.