Planet Pensions S.R.O., previously known as Square Mile Financial Services S.R.O.
Liquidated 4 Jan 2021
Planet Pensions Limited S.R.O. (Planet Pensions) has gone into liquidation. The company was formerly known as Square Mile Financial Services S.R.O. (Square Mile) and was based in the Czech Republic.
Square Mile gave some customers unsuitable advice to transfer their pensions into the Forthplus SIPP. Customers are now claiming compensation from FSCS due to the failure of Planet Pensions.
FSCS can only consider claims against Planet Pensions where customers have first exhausted any right to claim against connected firms still trading.
FSCS understands that Forthplus Pensions Ltd (an FCA authorised firm) accepted pension transfers into the Forthplus SIPP, on the recommendation of Square Mile.
Customers that received advice from Square Mile to transfer their pension into the Forthplus SIPP should direct their complaints to Forthplus Pensions Ltd.
If Forthplus Pensions Ltd or your adviser rejects your complaint, you can take your complaint to the Financial Ombudsman Service.
As Forthplus Pensions Ltd is still trading, FSCS is not currently accepting claims relating to advice given by Planet Pensions (or Square Mile) to invest into the Forthplus SIPP.