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Pension Consultant Insurance

Protecting pension consultants from under £55* per year

Not on comparison sites — save money by coming direct to us

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Excellent 4.7 out of 5

Professional Saver Pension Consultant Insurance


Our standard cover is:

  • £1 million cover for public and products liability (with an option to increase to £2 million, £5 million or £10 million)
  • £10,000 cover for any financial loss (£50K cover optional)
  • Worldwide liability cover for temporary work abroad for up to 14 days (excluding the USA and Canada)

Professional Saver offers pension consultant insurance starting from just £55* per year. Get your no-obligation quote today and join the many businesses we have protected.

Our standard cover includes:

  • Up to £5 million in public liability cover (£1 million as standard with the option to increase)
  • £250,000 legal expenses insurance
  • Worldwide cover for temporary work abroad (excluding USA/Canada)
  • Accidental death cover and other benefits

As a pension consultant, comprehensive insurance is crucial to protect you when providing financial advice to clients planning for retirement. Our professional indemnity insurance covers you against claims if a client loses money due to your recommendations.

For example, you could face substantial pay-outs if inappropriate pension scheme advice leads to loss of expected retirement incomes.

Our policies provide complete peace of mind that any claims caused by your pension consultancy advice will be handled professionally and efficiently.

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Why choose Professional Saver pension consultant insurance?

Save £££ on your insurance Save on your insurance

Customers are always telling us how much they saved by switching

Trusted for over 40 years Trusted for over 40 years

We’ve been providing insurance to businesses since 1984

Financial Strength Financial Strength

Insurance provided by a Standard & Poor’s ‘AA- Stable’ rated insurer

Defaqto 5 Star rated

Our Professional Saver Insurance (Covea) has been independently rated 5 Stars by Defaqto – the highest possible rating, awarded to excellent products with a comprehensive range of features and benefits.

Learn more about our Optional Covers

* Due to the specialist nature of your profession, we’ll arrange a separate policy for your professional indemnity cover to complement your Professional Saver policy. Please get a quote online for the other covers you need and contact us to discuss your personalised professional indemnity quotation.

How our pension consultant insurance works

1 Apply online

Complete our simple quote form with basic details about your business.

2 Get a quote

Get an instant quote & choose any optional covers you may need.

3 You’re insured!

Instantly activate your Professional Saver policy and view your certificates online.

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What Is Pension Consultant Insurance?

Pension consultant insurance protects retirement planning advisers against claims due to errors, omissions, or negligence in their guidance. It shields against compensation pay-outs if flawed pension recommendations cause financial loss.

This insurance covers pension consultants’ liability for:

  • Advising on unsuitable pension schemes leading to loss of expected retirement income
  • Inaccurate pension transfer or consolidation advice reducing projected retirement funds
  • Suboptimal pension investment strategies failing to maximise returns

Adequate coverage is essential for pension professionals because small mistakes can potentially lead to the loss of substantial retirement savings. This insurance protects livelihoods by covering resulting legal costs and compensation claims.

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Why Do Pension Consultants Need Insurance?

Pension planning is complicated, with rules and best practices constantly evolving. Consultants can easily make mistakes, leading to reduced incomes in clients’ golden years.

Without adequate insurance, just one error could see pension consultants facing major pay-outs to compensate for the financial future they have damaged. Our specialist policies provide complete protection if your pension advice leads to loss of client assets or retirement income.

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What Does Pension Consultant Insurance Cover?

Our pension consultant policies can provide protection against:

  • Public Liability: Protects against injury and property damage claims caused while visiting clients’ homes or offices to offer pension consultations.
  • Legal Expenses: Provides specialist legal advice and covers legal costs if you face civil claims alleging professional negligence.
  • Professional Indemnity (optional): Covers financial loss claims stemming from flawed pension planning advice. This includes protection if your guidance leads to clients having lower incomes in retirement.
  • Contents & Business Equipment (optional): Insures against damage or theft of vital equipment like computers and printers needed for your business operations.

We will take you through all available options as part of the online quote process.

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What Services Can Professional Saver Cover?

Our pension consultant insurance covers all core advisory activities like:

  • Pension scheme suitability advice
  • Pension consolidation and transfer guidance
  • Self-invested personal pension consultancy
  • Public sector and private corporate pension planning
  • Investment-linked annuity consultations
  • Income drawdown and retirement product advice

We cover most major claims scenarios, including loss of income in retirement due to suboptimal pension plans. Our policies aim to provide complete protection for pension consultants.

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Why Choose Professional Saver for Pension Insurance?

With over 35 years of experience, Professional Saver is a trusted choice to protect your pension consultancy, with key benefits like:

  • Direct Specialists: We are a specialist business insurer, not a comparison website. Clients work directly with advisors who understand your sector.
  • 24/7 Legal Helpline: Whenever you need expert legal guidance on insurance matters, our dedicated helpline offers advice.
  • Instalment Option: You can spread your insurance costs by paying monthly for any insurance policy costing over £125 per annum.

Get your fast online quote today, and let us protect your livelihood for as little as £54* per year.

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Chosen by over 5000 businesses and counting*

Chosen by over 18761 businesses and counting

Online & Anywhere

We like to keep things simple. Your quote, purchase and documents are all available online, anytime.

Monthly Instalments

Cashflow is important to every business. Spread the cost by paying in easy monthly instalments.

Instant Cover

No need to wait for your documents. Our professional cover starts from the date you select.

Added Protection

Public liability, products liability, financial loss, legal expenses and accidental death cover as standard.

* Total number of live policies as of 31/10/2025

FAQs

Pension Consultant Insurance FAQs

Insurance is critical because flawed pension advice can severely reduce clients’ retirement income. As pensions are complicated with regular rule changes, the risk of consultancy errors leading to client financial loss is a real possibility. Our policies cover resulting claims – without them, consultants could face substantial pay-outs personally.

We cover all core pension consultancy activities, including:

  • Scheme suitability and transfer advice
  • Fund consolidation and management
  • Income drawdown and annuities
  • Self-invested personal pensions
  • Public and private corporate pensions

Essentially, we cover claims resulting from any flawed pension guidance reducing client retirement funds.

Typical claims covered include:

  • Advising an unsuitable high-risk scheme leading to pension pot loss
  • Poor fund investment strategies underperforming markets
  • Transferring pensions into funds with high hidden charges
  • Failing to advise clients on pension allowances, leaving them with tax bills

Yes, our specialist insurance is designed for the full spectrum of pension guidance – from individual retirement planning to trustees of large workplace and executive pension schemes.

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What our customers say

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