At this difficult time we want our clients and those who work with us to know that we are operating as normal. Here is our update about some of the steps we are taking. Government advice guides us all to be sensible and to take suitable precautions. At Corries we are doing all we can…

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Mr W from Wallyford in East Lothian transferred his pension fund of £4,571 in 1990 from the Mineworkers Pension Scheme to Phoenix Life. The pension provider in the end accepted that they he had been badly advised and paid compensation of £55,215.

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Mr J from Scunthorpe worked for British Steel. In 1992 an independent financial adviser, Howard Frapwell Insurance advised him to transfer his British Steel pension of £35,165 to Scottish Widows. As the IFA was no longer in business and was in default, compensation was paid by the Financial Services Compensation Scheme at £48,000.

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Mrs S from Warrington worked for New World (TI Group) and was a member of the pension scheme there. In 1989 she was persuaded by an IFA Grange Financial to transfer her pension of £3,862 to Norwich Union. The IFA had ceased trading and a successful claim was made through the Financial Services Compensation Scheme…

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Mr J of Barnsley worked at Grimethorpe Colliery. In 1991 he was advised by an IFA Goodare Owen & Co who were part of the Sesame Network to transfer his MPS fund of £13,135 to the Prudential. The network responsible for the IFA paid compensation of £109,147.

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Mr K from Mansfield was a miner who was persuaded in 1992 by an agent of Hill Samuel (now Abbey Life) to transfer his pit pension of £7,290 to them. He had been wrongly sold and no previous review of his pension had been carried out. Abbey Life admitted that they had given bad advice…

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Mr B from Doncaster, a worker at Brodsworth colliery. He was advised in 1991 to transfer his pit pension of £13,215 to Sun Life Financial of Canada by one of their agents. Eventually, they accepted responsibility for the bad advice and paid compensation of £192,214.

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Mr T from Scunthorpe worked for British Steel and was persuaded by a Prudential agent in 1988 to transfer his British Steel Pension of £12,207 to them. Compensation of £92,232.11 paid.

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Mr W of Sutton-in-Ashfield was advised in 1989 by an IFA, Bale Insurance to transfer his pit pension of £5,807 to Standard Life. The IFA was no longer in business and therefore the Financial Services Compensation Scheme agreed to deal with the claim and awarded compensation of £48,000.

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