Are Your Pension Fund Trustees Really Looking After You ?
While the Pension market in the UK has, and continues to undergo momentous changes there are a number of issues which seem to have been missed in all of the headlines.Â
One such area is the settlement of investor compensations claims, which have been increasing in the US over the last few years in particular. There have been high profile payments from Enron and AOL / Time Warner, but millions of dollars are going unclaimed - are you one of those who has suffered, but not claimed?
While it is the responsibility of the pension trustees of your scheme to make the necessary claims, many appear to have been scared off by the myth that they will incur legal charges, or need to make representations to a US court - this is wrong. Once the action has been settled, then those entitled to claim compensation can do so at no charge. Even though the likes of the Enron and AOL / Time Warner compensation cases grab the headlines, there are between 130 and 160 such cases agreed in the US each year.  US investor compensation settlements in 2006 alone totalled $18.3 billion, much of which remains unclaimed!
These claims often relate to deception or mismanagement, and on many occasions have resulted in criminal charges against directors and associates of various companies. It is essential that you act in conjunction with your pension fund trustees to ensure that you claim any compensation which may be due to you. Investor losses are not normally repaid, therefore you should make the most of the opportunities when they arise - after all your fund will have suffered due to some form of unlawful activity.
For more information, you may wish to check out the National Association of Pension Funds website at :-
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