Complain to the adviser
Whether the recommendation to use a SIPP for that asset was suitable, and what you were told about the risks and the regulation of the asset.
04 Mis-sold SIPP claims
Mis-sold SIPP claims: two failures, not one.
A self-invested personal pension is a wrapper, not an investment. That single sentence explains most SIPP complaints, because a SIPP can be sold perfectly properly and still end up holding something the client should never have been in.
Short answer
A SIPP claim usually turns on two separate questions: whether the advice to transfer into the SIPP was suitable, and whether the investment the SIPP then bought was suitable and properly described. Complain to the adviser and, where relevant, the SIPP operator; the Financial Ombudsman Service is free if the firm does not resolve it.
Indicators only. Not legal or financial advice. Not a prediction of outcome.
01 Is this you?
Tick what fits.
A claim is worth pursuing when the facts line up. These are the facts that matter most for this product. If three or more describe your situation, the checker is worth five minutes.
- You were advised to move a workplace or personal pension into a SIPP.
- The SIPP then invested in something unusual: overseas property, storage units, forestry, renewable energy, film or lending.
- The underlying investment was described as low risk, secured or guaranteed.
- The SIPP operator accepted the investment without asking you about it.
- You cannot find a document explaining why the underlying investment was suitable for you.
- The investment stopped paying, or could not be sold, or was valued on the operator’s own estimate.
- The adviser and the SIPP operator were part of the same group, or introduced each other.
- You were not told whether the underlying investment was regulated or FSCS protected.
02 How it works
How a claim works for this product.
Separate the wrapper from the investment
The SIPP is the pension wrapper. The underlying asset is what the money bought. Complaints fail when the two are muddled: a complaint that the SIPP “lost money” will be met with the answer that the SIPP only did what it was instructed to do. A complaint that a specific investment was unsuitable for you, and that somebody recommended or permitted it, is a different and much stronger thing.
Identify who recommended and who permitted
There are usually two firms: the adviser who recommended the arrangement, and the SIPP operator who accepted the asset into its scheme. The Ombudsman can look at whether an operator’s decision to accept an asset was reasonable in the circumstances, as well as at the advice. Establish which firm did which, because the complaint has to be addressed to the right one.
Check the underlying asset against the description you were given
Set the sales material next to the actual documents. Was the asset described as secured when the charge was never registered? Was it described as low risk when the money was unsecured lending to one borrower? Was a valuation a professional valuation, or an estimate by the party who sold it to you? These comparisons are the substance of the case.
Work out what could be recovered, and from whom
Where the adviser or operator has failed, FSCS may be available: up to £85,000 per eligible person, per firm for firms that failed after 1 April 2019, and only where the firm was authorised and the activity was regulated. Where the underlying asset was never a regulated product, recoveries from the asset itself are usually a separate exercise entirely.
Act on the pension as well as the complaint
While the complaint runs, the pension still needs decisions. If the asset is illiquid or in default, take independent advice on the pension separately, because the complaint will not preserve the fund.
03 The clock
Time limits are the first thing to check.
- Firm complaint: normally within 6 years of the advice or the investment, or within 3 years of becoming aware of cause to complain.
- Ombudsman: within 6 months of the final response, normally due within 8 weeks.
- FSCS: where the firm has failed. Claims about bad advice require the advice to have been given on or after 28 August 1988. Investment claims are limited to up to £85,000 per eligible person, per firm for firms that failed after 1 April 2019.
- Court: limitation runs from the date of the loss or of knowledge, whichever the rules produce, subject to the 15-year longstop — worth advice on the dates.
- Unregulated assets: if what the SIPP bought was not a regulated product, some routes are closed from the start. Establishing that early saves years.
04 The routes
Which route fits your facts.
Complain to the SIPP operator
Whether accepting the asset into the scheme was reasonable, what checks were made, and whether you were warned that the investment was not FSCS protected.
FSCS
Only where the firm you are complaining about has failed and was authorised for the activity in question. Free to claim.
Court
Where the loss exceeds what the Ombudsman can award, or where the counterparty is outside its jurisdiction. Usually needs a solicitor, and funding becomes a real question — see the litigation funding guide.
05 Evidence
Documents to gather.
You do not need everything before you start. But a complaint that names dates, amounts and documents is much harder to answer with a template letter.
- The SIPP application, terms and any investment instruction
- The adviser’s recommendation and fact find
- All documents for the underlying asset: brochure, valuation, charge or security, and accounts
- Any statement that the asset was FSCS protected or low risk
- The SIPP operator’s own correspondence and acceptance records
- Statements showing transfers in and any withdrawals or income
- Anything showing who introduced whom, including commission or fee disclosure
- The current position: valuation, default notices or correspondence from the borrower
06 Questions
Questions people ask about this product.
Is a SIPP itself mis-sold, or is it the investment?
Usually it is the investment and the advice around it. A SIPP is a tax wrapper; a wide range of assets can be held in one. The complaint normally has to identify an unsuitable asset and a firm that recommended it or accepted it into the scheme.
What if the investment was not regulated?
That does not automatically end the analysis, but it removes some protections. Whether the adviser told you it was unregulated, and whether the SIPP operator warned you that it was not FSCS protected, become central questions. Pursue those with the firms rather than assuming there is nothing to do.
Can I complain to both the adviser and the SIPP operator?
Yes, and they are separate complaints with separate answers. Keep the paperwork separate too, so you can see which firm said what. If one has failed, that part may go to FSCS while the other continues with the Ombudsman.
What can FSCS actually pay for a SIPP claim?
Where the firm has failed and the activity was regulated, up to £85,000 per eligible person, per firm for firms that failed after 1 April 2019. FSCS cannot accept claims that are only about poor investment performance, and it does not cover unregulated products themselves.
The asset has been revalued to almost nothing. Does that decide the case?
No. The complaint is about the advice and the description of the investment, not about the latest valuation. A collapse in value is usually the event that reveals the problem rather than the problem itself.
Do I have to move my pension while complaining?
No, and you should not do so on this website’s account. Take independent advice on the pension itself; the complaint and the pension decision are separate.
Sources
Every rule, limit and deadline on this page comes from the official sources below. Each was read on the date shown. Where we could not verify a rule against the official text, we have left a visible instruction to confirm it rather than describing it from memory.
Understanding compensation for financial loss
Financial Ombudsman Service
Checked 12 October 2026 — Award limits for cases referred to the Ombudsman, and how compensation and interest are worked out.
Financial Services Compensation Scheme
Checked 12 October 2026 — Investment compensation limits per eligible person per firm, and what FSCS cannot cover.
FSCS compensation rules and eligibility
Financial Services Compensation Scheme
Checked 12 October 2026 — The conditions that must all be met before FSCS can pay a claim.
Financial Conduct Authority
Checked 12 October 2026 — The complaint process, the eight-week final response and the six-month window to go to the Ombudsman.
Using claims management companies
Financial Conduct Authority
Checked 12 October 2026 — Who must be authorised, the fee cap for financial services claims, and the protections you are entitled to.
Limitation Act 1980, section 14A — special time limit for negligence actions
legislation.gov.uk (The National Archives)
Checked 12 October 2026 — Six years from the cause of action, or three years from the date of knowledge if that is later.
MIS-SOLD INVESTMENT / CLAIM CHECKER
// Next step
Check your own facts against the eight checks.
Free, private, and no obligation. You get an indicator, the checks that fired, where you are against the deadlines, and the documents to gather.
Canonical: https://mis-sold-investments.com/mis-sold-sipp-claims/