Description
Financial Advisers: The date of loss for limitation purposes in an action arising out of negligent advice to transfer benefits under an occupational pension scheme to a personal pension fund withdrawal scheme was suffered immediately on the transfer of benefits. The transfer did not involve a contingent liability as in Sephton because the personal scheme was immediately less advantageous because of its uncertain income stream which was contrary to his intentions and caused him detriment. The loss was the possibility of actual financial harm. It did not matter that the risk of loss to which the Claimant was exposed might not eventuate.
