Smaller UK pension firms warned to sort out mis-selling

Britain warned smaller pension providers yesterday to get their act together in reviewing cases of pension mis-selling or face regulatory action.

In a statement accompanying the latest figures for the 41 worst mis-selling offenders, treasury secretary Ms Helen Liddell said that every firm "from the large household names to the smallest independent financial adviser (IFA)" had to get on with the task of processing cases and making redress where due.

Estimates from the Treasury suggest over two million people may have been wrongly advised to take out personal pensions instead of staying in occupational schemes.