PS Employee Benefits Ltd, trading as Bellpenny, TQ Employee Benefits and Torquil Clark Employee Benefits
What this means for you
Because PS Employee Benefits Ltd, trading as Bellpenny, TQ Employee Benefits and Torquil Clark Employee Benefits has been declared in default, you can't complain via the Financial Ombudsman Service in the normal way. Instead, eligible customers can apply to the Financial Services Compensation Scheme for compensation.
Background
PS Employee Benefits Ltd, which operated under the trading names Bellpenny, TQ Employee Benefits and Torquay Investments (FRN 190545), provided pension advice, pension transfer services and Self-Invested Personal Pension (SIPP) administration to customers. The firm was declared in default by the Financial Services Compensation Scheme (FSCS) on 17 July 2020. Former customers may be entitled to FSCS compensation of up to £85,000 in relation to claims arising from the firm's pension products and services.
Products this firm wrote
How to claim
- Check you were a customer of this firm during the period it was regulated.
- Gather your policy / advice / contract paperwork — start with anything you have in writing.
- Identify your loss and the date it crystallised.
- Apply via the FSCS online claim portal at claims.fscs.org.uk.
- The FSCS investigation typically takes 6–18 months. They will assess eligibility, liability and quantum.