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13 April 2021 | Comment | Article by Neil Stockdale

Planet Pensions S.R.O. enters liquidation

The Czech Republic based company Planet Pensions, formerly known as Square Mile Financial, went into liquidation in January 2021.

Square Mile provided some customers with unsuitable advice, advising them to transfer their pensions into the Forthplus SIPP. Transferring your pension into a SIPP in order to invest in unregulated investments or in sacrifice of defined benefits, is generally regarded as unsuitable for most people, and often customers don’t know or understand the risks they are exposing themselves and their pensions to.

The Industry’s lifeboat fund, the Financial Services Compensation Scheme (FSCS),is now accepting claims against Square Mile.

If you have had any past dealings with Planet Pensions/Square Mile Financial, then you could be entitled to claim compensation. Our experts have dealt with hundreds of FSCS claims and can guide you through the process on a ‘no win, no fee’ basis.

Contact the Financial Mis-Selling Team on 029 2267 5700 or email to find out how we can help you.

Author bio

Neil Stockdale


Neil is head of the firm’s group actions and financial mis-selling teams, specialising in handling claims for financial mis-selling relating to energy contracts, pensions, investments and timeshares.

Disclaimer: The information on the Hugh James website is for general information only and reflects the position at the date of publication. It does not constitute legal advice and should not be treated as such. If you would like to ensure the commentary reflects current legislation, case law or best practice, please contact the blog author.


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