The way that you can access your pension savings has changed and the Pensions Regulator has warned savers to be aware of scammers. This is because savings can be accessed in lots of different ways and the new flexibilities can make the position more confusing. Scammers may try to entice you with promises of upfront cash or guaranteed high returns.
You need to be aware that you could lose your entire pension savings and still have to pay the tax you owe to HMRC for accessing your savings.
The Pensions Regulator has issued a guide to help protect you during this process.
The below chart highlights ten steps to help you hopefully spot a scam.
The information on this page is provided in good faith but is not legal or financial advice or binding on the Trustee. The trust deed and rules will override in the event of any inconsistency.
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