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Diana McDonnell-Pascoe


15th March 2022

Pension Scammers want your money!

Pension Scammers want your money!

Inform yourself on how to protect your pension

Your pension is one of your most important savings and unfortunately this attracts criminals who want to acquire your hard-earned savings. The main hazards are:

  • Pension scams - where you are encouraged to transfer your pension savings to a fraudulent pension scheme or to move your pension into high risk investments.

  • Pension liberation - where you access your pension before age 55. Under normal circumstances, this is illegal and will lead to HM Revenue and Customs imposing a tax charge on you of at least 55% of the value of your pension pot. However, if you are suffering from ill health it may be possible to access your pension below age 55 with your current pension provider.