Store First Ltd Storage Pod Investment Claim
Store First is an operator of storage pods/units based at several locations in the UK.
The Store First units were advertised and sold as being suitable investments for SIPPs, but as unregulated investments, they were high risk products which were unlikely to be suitable for most investors who did not want to take such high risks with their pensions.
Many investors purchased these storage units as a result of cold calling, slick advertising, and promises of high returns. Unfortunately, investors are seeing poor or even no returns on these investments which now have greatly reduced or even no sale value at all. Allegations of fraud have been made against sellers, the Serious Fraud Office has looked into these investments and the company has faced a winding up petition from the Government to try to prevent further mis-selling.
The Self Storage Association does not have Store First as a member and has a number of their own concerns about the investment.
If you have invested in any type of storage pod and are not receiving the promised returns or cannot now sell your asset, you could be entitled to reclaim your losses if you were given unsuitable advice or your SIPP Provider did not warn you of the high risks involved with these investments before admitting them to your SIPP.
Grounds On Which You May Have Been Mis-Sold a Store First in your SIPP?
In order to determine if you are eligible for a SIPP compensation claim please check If any of the following statements is true in your case:
- Store First did not explain the pension transfer & investment risks to you properly.
- Your financial situation was not properly assessed with a fact find by Store First.
- You felt uncomfortable or pressured by Store First into an investment that you didn’t need or want.
- Store First did not explain that the amount you get back will depend on performance.
- Store First did not accurately explain the fees and charges that would be incurred.
- You were not unaware that Store First had advised you to invest in an unregulated investment.
- You were not advised by Store First about exceeding the £40,000 tax-free limit would make you liable for the 55% income tax.
- You feel that you were given poor advice by Store First concerning SIPPs which has left you worse off financially
If any of the above points stand true, then it may be possible for you to get compensation.
Pension Redress Calculator
How To Use The Calculator
Our pension redress calculators will give you an indication of how much your mis-selling refund could be worth. If your case is upheld, the exact value of your refund will not be known until all the facts of your case have been disclosed and a final figure calculated by the firm.
1. Enter your details into the Red Boxes.
Ongoing Monthly (£) is optional if you continued to pay in each month after switching.
2. Choose your growth rate %pa.
Select the rate that you feel your previous pension was growing at. 3% Low, 6% Medium or 9% High rate.
3. Compare your values.
See what your pension would have been worth if you had left it in the previous scheme vs. the new scheme. Choose to compare current value or value at your chosen retirement age.