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Compensation expectations rise

More than a million people could receive compensation by completion of the personal pension misselling review, according to economic secretary to the Treasury Melanie Johnson.


In a written reply to a parliamentary question, Johnson suggests of 114,000 alleged misselling cases investigated in phase two of the review, compensation has been offered to 90,000 people which is 79 per cent of the cases.


Society of Financial Advisers chairman Robert Reid says: “This figure is far more than anyone expected. It&#39s a very large figure and I cannot see all of my members surviving.”

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