Pension Scams

August 14, 2019

Citizens Advice has identified four ‘types’ of pension scam to look out for:

  • Liberation scams that offer access to a pension before the age of 55. This often results in a large tax bill in addition to the loss of savings.

  • Investment scams that offer high (unrealistic) returns on overseas investments of pensions.

  • ‘Review’ scams that offer a ‘free’ review into pension savings and investment returns.

  • ‘Advice scams’ that offer free advice with the aims of obtaining information or authority to transfer a pension or to act as a lead for other pensions scams.

     

     

     

     

     

     

     

     

     

Commons briefing paper- "You can check the Financial Conduct Authority (FCA) register of regulated and approved advisers here. If you use an adviser that is not approved by the FCA, you will not have access to the Financial Ombudsman Service (FOS) or Financial Services Compensation" 

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