When an independent financial adviser approached her school offering advice on pensions, she and her husband agreed to meet him. "He said he was a retired headteacher and that he knew all about my wife's contributions," recalls Robert Spencer. "He assured us the only way to go was to pay into an FSAVC scheme. "
But, after retiring because of ill-health, Mrs Spencer has ended up with a pension of Pounds 700 a year which is not index-linked, instead of the index-linked pension of Pounds 1,000, plus a tax-free lump sum of Pounds 5,000 she would have received if she had bought past-added years.
The company involved has admitted mis-selling, but the Spencers are still fighting for full compensation.