‘Which’ describes a couple of the scams that have raised their grubby little heads above the parapet following the UK government’s decision to allow pensioners more choice in how they use their ‘pension pot’. Specifically:
- Free pension reviews as a first move toward persuading victims to move their pensions to dubious investment schemes. Cold callers may claim to represent the Money Advice Service.
- Pension liberation scams. These may entail not only ludicrously high ‘service charges’ but may leave the victim vulnerable to taxation issues.
I think I may come back to this topic after a little further research.
‘Which’ article: Protect your pension savings