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New pension misselling fears

A new pension scandal may be sparked off by the compensating of a woman after she was mis-sold a pension top-up scheme by Allied Dunbar.


The Personal Investment Authority Ombudsman found against Allied Dunbar and awarded the woman a 25 per cent increase in her pension savings, the amount she is estimated to have lost by not investing in her employers in-house scheme.


The woman&#39s claim centred on her not being made aware of the impact of higher charges on her savings through a Free Standing Additional Voluntary Contribution Scheme she bought it from Allied Dunbar in 1992.


Allied Dunbar was unavailable for comment.


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