Reference Case Number: FOI8147
Freedom of Information: Right to know request:
Financial Services Compensation Scheme
.... [L]aw firms offering services to claim compensation on Mis-sold pensions / SIPPS have a disclaimer that you can present a claim directly with the FSCS for free.
In the questions below, we refer to "self-claims" meaning a claim that was presented by an individual without the services of a Law Firm or Claims Management Company.
- What is the success rate of making a claim yourself versus using a Law Firm or Claims Management Company?
- How many self-claims were submitted in 2017, 2018, 2019 and 2020 for a mis-sold Pension and how many were successful in each year?
- How many claims were submitted by either a Law Firm or Claims Management Company in 2017, 2018, 2019 and 2020 for a mis-sold Pension and how many were successful in each year?
- How many self-claims were submitted in 2017, 2018, 2019 and 2020 for a mis-sold SIPP and how many were successful in each year?
- How many claims were submitted by either a Law Firm or Claims Management Company in 2017, 2018, 2019 and 2020 for a mis-sold SIPP and how many were successful in each year?
- With regard to success rates, statistically, are you better off submitting a claim yourself for those items listed below? A simply yes or no will suffice.
- Mis- sold Pension
- Mis-sold SIPP
- Has the success rate of any self-claim been enhanced as a direct result of legal and / or technical arguments presented by a Law Firm of Claims Management Company?
- If the answer to question 7 is yes, please confirm what percentage of self-claims have been so enhanced.
FCA response:
Refer to supporting documents below