Hartley Pensions Limited – in Administration

Please click here to access the Joint Administrators’ six month progress report. 

The joint administrators are aware that a client of Hartley Pensions Limited (“Hartley”) has set up an action group website. We want to emphasise that this website contains several inaccuracies concerning both the administration of Hartley and its parent company, Wilton UK (Group) Limited. 

One significant inaccuracy is the claim that Mr Flanagan has leverage of UHY Hacker Young and therefore has control over the Hartley administration. This claim is entirely untrue. Mr Flanagan holds no authority over UHY Hacker Young, the joint administrators or Hartley itself. Upon the administration of Hartley, Mr Flanagan's directorial powers ceased and he no longer maintains any managerial position within the company. 

The website is soliciting funding via a GoFund website, though it fails to specify how the funds will be used. The joint administrators advise exercising caution if considering making a donation. 

Please be assured that the joint administrators are diligently addressing the situation and working to ensure that accurate information is accessible to all clients. 
 

Please click here to access the proof of debt form. Completed forms should be sent to Dhruv Maru at d.maru@uhy-uk.com, together with any supporting documentation, to formally submit a claim in the administration of Hartley Pensions Limited. 

Please click here for an update to SSAS clients. 

Please click here to view a further update to clients.

Please click here to view a further update to clients. 

Please click here to view a further update to clients and frequently asked questions.

Please click here to access the Joint Administrators’ six month progress report. Please note that clients are being provided access for information purposes only. 

The Joint Administrators are aware that a number of clients have been receiving communications from the following email addresses: ''admin@hartleypensionsuk.com'' and “info@hartley-pensions.com” as well as receiving calls from 020 7971 1496, 0117 251 0439 and 0117 251 0319. These messages and calls appear to represent that they are on behalf of Hartley, and the Joint Administrators are aware they have been requesting client’s bank details to process a refund. 

The Joint Administrators are also aware of communications being sent to clients by the following:

• Central Reservations UK, using the email "accounts@centralreservations-uk.com", advising clients to contact Hartley’s offices on 020 7088 8341 please note this is not a Hartley phone number;
• Chartered Trading Standards Institute advising clients to contact them on 08000 541 432; and
• Debt Collectors UK Limited requesting payment by client.

Please be aware that any correspondence received from these email addresses or phone numbers are NOT authorised by Hartley or the Joint Administrators and may be a scam. If clients receive communications from these email addresses or phone numbers, the Joint Administrators advise clients to disregard these and report it. Please do NOT provide any personal information, bank details or arrange payments to them.  

The Joint Administrators are also aware that some clients have received communications from Bowerstone Capital Limited claiming to have been instructed by The Insolvency Service to assist clients with recovering their assets. Whilst the correspondence from Bowerstone Capital Limited does not appear to mention Hartley Pensions Limited, the Joint Administrators have notified The Insolvency Service and they have confirmed they have not instructed Bowerstone Capital Limited. The Insolvency Service has referred us to the following link, which provides further information which they have published: Investors warned about approaches to recover lost funds - GOV.UK (www.gov.uk) 

It should be noted that correspondence in relation to client schemes will only be issued by Hartley Pensions Limited. Clients are reminded to remain alert and should correspondence be received by a third party, they should notify the Hartley Pensions team by any of the following methods:

Phone: 0800 063 9113 (Freephone for UK callers)
            +4420 3282 8151 (international callers)
Bristol office: +44 117 316 9991
Email: hartleypensions@uhy-uk.com or admin@hartleypensions.com
 

Please click here to view a further update to clients and frequently asked questions. 

Please click here to view an update to SSAS clients. 

Important update regarding Hartley Pensions Limited – In Administration - and your self-invested personal pension scheme (''SIPP'')

We write to provide you with an update on the current administration of Hartley Pensions Limited- in administration (''Hartley'') and in particular to inform you of the progress made in respect of the key tasks being conducted by Peter Kubik and Brian Johnson of UHY Hacker Young LLP (the "Joint Administrators") since their appointment as Joint Administrators of Hartley on 29 July 2022. 

Background Information 

As you may be aware Hartley entered into administration on 29 July 2022. This decision was made as a result of serious operational and regulatory issues. Due to this the Financial Conduct Authority (''FCA'') imposed a number of requirements on Hartley and upon seeking professional advice the director concluded that Hartley was or was likely to become cash flow insolvent in the future. As a result of this the director appointed the Joint Administrators to manage the affairs of Hartley. 

Updates on the Administration of Hartley 

The Joint Administrators are aware of the recent communications circulated by Mr Flanagan on 23 November 2022, as a director of Hartley Pensions Trustees Limited and Hartley SAS Limited. The Joint Administrators would like to make it clear that these communications were sent without the agreement of either the FCA or the Joint Administrators and are inaccurate and misleading.  

All information in regards to the administration of the SIPPs and all client concerns have been addressed in our FAQ page set up by the Joint Administrators. A further updated copy of FAQs is attached to this letter and a further link to the FAQ page is included below for ease of reference: https://www.uhy-uk.com/hartley-pensions-limited-administration

If after visiting the above webpage, you have any outstanding queries not covered by the FAQs you can contact the Joint Administrators on 0800 063 9113 or at hartleypensions@uhy-uk.com. Please ensure any email sent to this email address includes your SIPP/SSAS reference and we will respond to you as soon as possible. Please ensure that all queries are directed to either the customer service number or email address above rather than the individual contact details listed in Mr Flanagan's communications on the 23 November 2022.

Please click here to access SIPP client FAQs. 

Please click here to access an update to SSAS clients.  

We are aware that clients have been sent a letter from the director of Hartley Pensions Trustees Limited regarding your pension scheme. This letter has not been approved by the Administrators and is factually incomplete and inaccurate.

Communications will be sent to all clients from the Administrators shortly. Despite extensive efforts, the Administrators have not been able to secure a sale of the Hartley Pensions Limited SIPP business. As such, the Administrators are in the process of structuring a Court approved plan to transfer out clients’ SIPPs on an individual or bulk basis. The communications will explain the timescales involved but it is not expected that this process will conclude prior to the first quarter of 2023. With regards to the SSAS book, a sale is likely to be agreed shortly and it is expected that a sale of the SSAS business will complete by the first quarter of 2023 with SSAS clients transferred to a new operator.  

We remain committed to administering your pension scheme and appreciate that clients will be concerned from the communications circulated by Mr Flanagan. However, please note that these communications have been issued without any input from the Administrators and therefore are incomplete, inaccurate and should not be relied upon. 

Clients are not required to do anything at this stage but we will notify all clients once the more detailed communications are issued.
 

On 12 September 2022 the FCA lifted the restriction preventing clients from transferring their schemes to an alternative provider. 

Whilst the Joint Administrators acknowledge the lifting of this restriction, they are however unable to comply with any requests to transfer until such time as a full reconciliation of each client’s holdings has taken place. This reconciliation is underway and it is hoped that it will be completed by January 2023.

This does not affect the ability of clients to carry out normal transactions although there is still a restriction in place preventing voluntary contributions being made.

If you have any further queries, please email hartleypensions@uhy-uk.com

We anticipate that there will be a further update posted on the website on the progress in the administration in December 2022.

Please click here to access the joint administrators’ proposals. Please note that clients are being provided access for information purposes only and are not therefore able to vote on the proposed decisions. 

Hartley is the manager and operator of your Self-Invested Personal Pension ("SIPP") and/or Small Self-Administered Scheme ("SSAS"). Hartley is a separate legal entity to the corporate trustees which hold the money and assets within your SIPP/SASS on trust.

As a result of serious operational and regulatory issues, the Financial Conduct Authority ('FCA') imposed a number of requirements over Hartley.  As a result, Hartley’s director sought professional advice and concluded that Hartley will or is likely to become cash flow insolvent in the future.  Subsequently, the director has appointed Peter Kubik and Brian Johnson of UHY Hacker Young LLP as joint administrators (the “Administrators”) of Hartley on 29 July 2022. 

Hartley remains subject to a number of FCA requirements agreed with by, or imposed upon, it.  The requirements were agreed or imposed in an attempt for Hartley to correct a number of operational, financial and regulatory issues within the business and to protect Hartley's clients.  

PLEASE REVERT BACK TO THIS PAGE FOR FURTHER UPDATES.

The Joint Administrators had previously advised that an informal client committee had been formed in order to consider the various models available to fund the ongoing costs of the administration, to determine the fairest option for all members. Sharesoc, a not for profit organisation run by individual investors, is part of the committee. Any clients who wish to contact the committee can do so via Sharesoc’s website at https://www.sharesoc.org/contact-us/. 

Administration is an insolvency process by which Hartley has been placed under the control of insolvency practitioners, who will manage the affairs of Hartley, instead of the director. 

The Administrators have a statutory objective of achieving a better outcome for creditors than in a winding up of the firm (without first entering administration) and intend to continue to operate Hartley while a transfer of its SIPP book is arranged in order to meet this objective.

Peter Kubik and Brian Johnson, both of UHY Hacker Young LLP, were appointed as Administrators by the director of Hartley.  

The Administrators are both qualified insolvency practitioners, regulated by the Insolvency Practitioners Association.

Yes, Hartley remains authorised and regulated by the FCA (in relation to SIPPs) and the Pensions Regulator (“TPR”) (in relation to SSASs). The Administrators are in contact with the FCA, which consented to the appointment of the Administrators, and are having initial discussions with TPR. They will also speak to other relevant agencies such as HM Revenue and Customs, the Financial Ombudsman Service ('FOS'), and the Financial Services Compensation Scheme ('FSCS'). You will be provided with all relevant information in due course. 

Hartley is the manager and operator of your SIPP/SSAS. The money and assets held in the SIPP/SSAS are held on trust by a corporate trustee which is a separate legal entity to Hartley. 

The Administrators are now engaged in an accelerated sale process to secure an alternative manager and operator of your SIPP/SSAS. It is the intention of the Administrators to trade Hartley whilst in administration, subject to funding, to allow the Administrators time to arrange an orderly hand over of the management of the SIPP/SSAS to an alternative provider. 
 

Existing pension assets are held by trustee firms, which are not regulated by the FCA, and have not entered into administration. If this changes the Administrators will contact any clients affected.

The Administrators are seeking to agree an orderly handover of the management of the SIPP/SSAS to an alternative provider as soon as possible. Please see the report at the top of the page for more information.

PLEASE REVERT BACK TO THIS PAGE FOR FURTHER UPDATES.

On 12 September 2022 the FCA lifted the restriction preventing clients from transferring their schemes to an alternative provider. 

Whilst the Joint Administrators acknowledge the lifting of this restriction, they are however unable to comply with any requests to transfer until such time as a full reconciliation of each client’s holdings has taken place. This reconciliation is underway and it is hoped that it will be completed by January 2023.

This does not affect the ability of clients to carry out normal transactions although there is still a restriction in place preventing voluntary contributions being made.

If you have any further queries, please email hartleypensions@uhy-uk.com

We anticipate that there will be a further update posted on the website on the progress in the administration in December 2022.

The restrictions do not prevent you from accessing your pension in the normal course. For example, you are able to drawdown money in the usual manner, trade investments and request your pension commencement lump sum. The only restrictions are that no further contributions can be made to your SIPP and no transfers out can be made currently.

Members are not currently able to make any new contributions to their pensions. This is intended to ensure that no new member assets are received in a period in which customers cannot transfer out and/or Hartley is subject to the administration process.  

Yes. It is intended that you will be transferred to a new provider, following which you may move to a provider of your choice. Any transfer to a new provider will require FCA approval. 

No action needs to be taken at this stage whilst the Administrators identify an alternative service provider. Please bear with us. We will provide you with regular updates to let you know what is happening.

If you owe Hartley money you will likely be asked to pay that money.  You will be contacted with details of where the money should be paid.

The Administrators are doing everything they can to facilitate a smooth transfer to a third party provider. They ask that you bear with them whilst they do this but if you want to make a complaint, you can submit this to the following address:

E: Complaints@hartleypensions.com
T: 0800 063 9113 (Freephone for UK callers)
    +4420 3282 8151 (international callers)

The FSCS is the compensation scheme for customers of UK authorised financial services firms and protects consumers when those firms are not able to meet protected claims against them. 

The FSCS will not be opening its online claims service against Hartley yet. Following Hartley's insolvency, the FSCS will investigate whether there are any claims protected under its rules that would allow the FSCS to declare a default and pay compensation.

If Hartley is not able to meet claims against it, and the FSCS identify any claims eligible under their rules, customers will be entitled to apply for compensation up to the limit of £85,000. The FSCS will work closely with the Administrators and investigate whether there are any claims that meet the qualifying conditions for compensation.

You can obtain further information about the FSCS on its website:
https://www.fscs.org.uk/making-a-claim/failed-firms/hartley-pensions/

Claims management companies may approach customers of Hartley, offering to help them bring claims against it. Be cautious if you are approached by one of these companies.  For the vast majority of Hartley customers there is no benefit in involving a third party in making a claim.  

The FSCS is free to use. However, it is not yet open to claims, pending its investigations into whether there may be any protected claims against Hartley that would allow them to pay compensation under their rules. The FSCS will publish updates on its website:

https://www.fscs.org.uk/making-a-claim/failed-firms/hartley-pensions/
 

As a result of the appointment of the Administrators, Hartley is protected by a statutory moratorium which prevents any legal processes being initiated against Hartley. Consequently, you cannot make a complaint to the FOS. However, if you want to make a complaint in the meantime, please submit this to the following address:

    FAO: The Administrators
    Hartley Pensions Limited (in administration)
    c/o UHY Hacker Young LLP
    Quadrant House
    4 Thomas More Square
    London
    E1W 1YW

The Administrators will work with the FSCS to determine whether Hartley is able to meet eligible claims against it. The FSCS will not be opening its online claims services against Hartley yet.
 

If you already have a claim with the FOS, you don’t need to take any action at the moment. The FOS will be working closely with the FCA and the Administrators to agree an appropriate course of action. The FOS will contact you in due course regarding the next steps. 

Hartley's staff remain employed and the Administrators will continue to liaise with the staff throughout this process.

You can contact Hartley in the usual way as follows:

Post: Hartley Pensions Limited, 5th Floor, 25 Marsh Street, Bristol, BS1 4AQ

Phone: +44 (0)117 316 9991

Email: admin@hartleypensions.com 

Updates will be posted on the UHY website at:
https://www.uhy-uk.com/hartley-pensions-limited-administration

If you wish to advise the Administrators on any matters, please email them at hartleypensions@uhy-uk.com

You can also write to them:

FAO The Administrators
Hartley Pensions Limited (in administration) 
c/o UHY Hacker Young LLP
Quadrant House
4 Thomas More Square
London
E1W 1YW
 

Please end the call and contact the Administrators on 0800 063 9113.  Please remain alert to the possibility of fraud.