FSCS in-default register

Planet Pensions S.R.O., previously Square Mile Financial Services S.R.O.

Declared in default4 January 2021FRN PP

What this means for you

Because Planet Pensions S.R.O., previously Square Mile Financial Services S.R.O. 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

Planet Pensions S.R.O., formerly trading as Square Mile Financial Services S.R.O. (FRN: PP), provided pension advice, pension transfer services, and self-invested personal pension (SIPP) administration to UK customers. The Financial Services Compensation Scheme (FSCS) declared the firm in default on 4 January 2021. Eligible customers may claim compensation of up to £85,000 in respect of pension-related investments held by the firm.

Products this firm wrote

Pension advicePension transferSIPP administration

How to claim

  1. Check you were a customer of this firm during the period it was regulated.
  2. Gather your policy / advice / contract paperwork — start with anything you have in writing.
  3. Identify your loss and the date it crystallised.
  4. Apply via the FSCS online claim portal at claims.fscs.org.uk.
  5. The FSCS investigation typically takes 6–18 months. They will assess eligibility, liability and quantum.