DAC Pensions Ltd

Under investigation 27 August 2021

FRN: 774721

You might be eligible for compensation

DAC Pensions Ltd has failed and was placed into voluntary liquidation on 27 August 2021.

We're aware that an overseas independent financial adviser recommended many DAC Pensions customers transfer their existing pensions into a DAC Pensions SIPP.

After the transfer, many customers had their pension funds placed in high-risk, non-standard investments. Some of these have since become illiquid and unredeemable, which means they can’t currently be sold or traded.

For FSCS to be able to pay your claim we must prove that DAC Pensions Ltd failed in its due diligence - in other words, did DAC Pensions Ltd do certain checks on the non-standard investments that would hold their customers' pension funds, before accepting them into its SIPP investment portfolio? Did it make sure they were appropriate for a SIPP, and did it identify any potential issues with them? Also, if it did identify potential issues, did it tell customers?

 

  • 31 May, 2022

    FSCS is now open to claims against DAC Pensions Ltd

    FSCS will now investigate whether any customers who have submitted claims to us are eligible for compensation. Until we have finished our investigations, we cannot say whether we will be able to pay claims against DAC Pensions Ltd.

    You can make a claim against this firm by clicking the' Check if you can claim' button at the top of the page.

  • 15 Feb, 2022

    We are continuing with our investigations into DAC Pensions Ltd. We’ve been working closely with 3rd parties to gather as much information as possible to see if there are protected claims.

    If we establish that there are protected claims against DAC Pensions we will open up to claims and provide an update on our website.

  • 10 Sep, 2021

    FSCS isn’t accepting claims at the moment, but we are investigating the matter urgently.

    Please keep checking our webpage, or sign up for email update notifications.

FSCS

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