My father invested a lump sum in a company called Solar 21 through pension advisors Clear Financial based in rathcoole. In the last year Solar 21 has had a number of financial issues and therefore are not paying out to investors. They received approval a week ago to sell off all of their assets (energy plants), and through that disposal all of their investors will receive their original capital outlay plus interest back. This sale is not 100% guaranteed but we’re being told very likely. The other option is the company goes into liquidation, and the pension investors will lose most of their money.
They’re estimating it will be Jan 2025 before any funds can be returned, and my father has not had any payout since 2022, so in total could be 30 months without an income.
My question is really is there anything else we can or should be doing? Or is it just a matter of waiting this out and living off the state pension?
Many thanks!
They’re estimating it will be Jan 2025 before any funds can be returned, and my father has not had any payout since 2022, so in total could be 30 months without an income.
My question is really is there anything else we can or should be doing? Or is it just a matter of waiting this out and living off the state pension?
Many thanks!