Do you feel well informed about potential pension scams?

image
Print Friendly

Six days before the government’s pension freedoms take effect, a study has revealed that scammers are rushing to exploit people who are possibly thinking of cashing in their private pensions under the new rules, which allow people to take out their entire pension pot in one lump sum.

We have put together three useful features to highlight some scams to be aware of:

Watch out, watch out, there’s a pension scam about! ←

Pension scammers are after your money! ←

You have no protection from pension scams ←

 

Do you understand your options when it comes to cashing in your private pension? Do you know where to go to get financial advice?  Do you feel well informed about potential pension scams?

Do you feel well informed about potential pension scams?

383 people have already voted, what's your opinion? Yes No

What are your views?

We'd love to hear your comments

Not a member?

Join the silversurfers community today! It's free, easy to do, and is packed full of features and amazing offers!

Join the community!
Click here if you have forgotten your password
djbowden59
6th Nov 2015
0
Thanks for voting!
I worked for a full 35 years and paid above the quoted rate, yet when i was made redundant my pension was quashed because i was only 54 years of age. I have queried this with the penssion brokers only to be told i will have to wait and see if i get a pension when i am 67 year old. so at the present moment in time i am living on my DLA and wife' s small pension.
Notdeadyet
10th May 2015
2
Thanks for voting!
Use common sense and get a recognised financial adviser from a recognised and reputable company that you have researched. Yet there will still be people I suspect who hire someone recommended to them in the pub and spend it all on high living.
nagonthenet
17th Apr 2015
2
Thanks for voting!
George Osborne has done this to hike the tax take prior to the election. There will be plenty who will just take the money without thinking about the tax to be paid.
Silverjan
9th Apr 2015
2
Thanks for voting!
Just get a financial adviser and ignore everything else! Simples!
SovereignInventory
1st Apr 2015
3
Thanks for voting!
Unfortunately the Government should be responsible and accountable in having professional, joined up systems and procedures for dealing with this change to people's pensions. This highlights yet another area where they are lacking.
nuttie48
1st Apr 2015
4
Thanks for voting!
Its disgusting that peoples information is being sold to anyone who requests it. If a partner or spouse requests any information they are met with data protection and not given anything even though they should be the first to be able to get it.
Archiebald
31st Mar 2015
4
Thanks for voting!
Not really. It all seems to be very vague but then how do you stop fraudsters? I do think the government needs to do a lot more to stamp out these criminals.
Baxi
31st Mar 2015
3
Thanks for voting!
Wilf: I'm getting emails every day offering 'fantastic investment opportunities' '8% returns' for your pension pot. I'm also getting a lot of letters from supposed advistors. It really is scary beause a lot of them sound so plausible. And then if you click through to the website they look really professional. So far my scam radar has been good and now I just click the delete button when I get one of those emails.

But where are they getting their information - what's happened to the Data Protection Act?????
Peter
31st Mar 2015
4
Thanks for voting!
I fully expect to receive a deluge of phone calls from dodgy companies selling pensions advice. It will just add to the many unwanted PPI, accident claims, mobile phone and computer calls that I get daily. I think the government need to provide more information and advice to those that may be vulnerable to these types of calls and fine and close down the bogus operations that perpetrate them much quicker.
Wilf
31st Mar 2015
3
Thanks for voting!
I have to say I keep seeing headlines in the news about potential scams and have read about scammers trying to persuade pensioners to place their monies in companies managing car parks in the Middle East or investing in forests in Bolivia and the suchlike. Its up to the government to sort this out. They should send letters to all of a pensionable age, put adverts in the paper and on the internet and have a proper website advising pensioners what they should and should not do. After all its the government who have changed the rules! (For the good I would say)

Community Terms & Conditions

Content standards

These content standards apply to any and all material which you contribute to our site (contributions), and to any interactive services associated with it.

You must comply with the spirit of the following standards as well as the letter. The standards apply to each part of any contribution as well as to its whole.

Contributions must:

be accurate (where they state facts); be genuinely held (where they state opinions); and comply with applicable law in the UK and in any country from which they are posted.

Contributions must not:

contain any material which is defamatory of any person; or contain any material which is obscene, offensive, hateful or inflammatory; or promote sexually explicit material; or promote violence; promote discrimination based on race, sex, religion, nationality, disability, sexual orientation or age; or infringe any copyright, database right or trade mark of any other person; or be likely to deceive any person; or be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence; or promote any illegal activity; or be threatening, abuse or invade another’s privacy, or cause annoyance, inconvenience or needless anxiety; or be likely to harass, upset, embarrass, alarm or annoy any other person; or be used to impersonate any person, or to misrepresent your identity or affiliation with any person; or give the impression that they emanate from us, if this is not the case; or advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse.

Nurturing a safe environment

Our Silversurfers community is designed to foster friendships, based on trust, honesty, integrity and loyalty and is underpinned by these values.

We don't tolerate swearing, and reserve the right to remove any posts which we feel may offend others... let's keep it friendly!

More Speakers Corner

Real or Artificial - What kind of Christmas tree will you have? Fresh cut Christmas trees
Each Christmas there is a ‘debate’ over real versus artificial Christmas trees. The...
Do you agree with Cryogenic Preservation? Excess smoky nitrogen gas discharge during filling of a liquid nitrogen dewar.
This week it was announced that a very brave 14 year old girl who had terminal cancer had won...
Should shops remain closed on Boxing Day? Boxing Day Sale cinnamon star on green wood concept.
A petition calling for a ban on shops opening on Boxing Day has attracted close to 194,000...
Will you be sending Christmas cards this year? Bracknell, England - October 28th, 2014: Vintage style Christmas cards. Modern cards originated from a printing in 1843 instigated by Sir Henry Cole, director of London's Victoria and Albert Museum.
The custom of sending Christmas cards was started in the UK in 1843 by Sir Henry Cole. He was a...
Do you still use cheques as payment? Signing a blank cheque with a fountain pen
** Note: Shallow depth of field
Cheques books have been used in the UK for over 350 years but they are now on the decline. In...
Are you surprised that Donald Trump won? Saint Louis, MO, USA - March 11, 2016: Donald Trump addresses supporters at the Peabody Opera House in Downtown Saint Louis
After months of campaigning, debating, mud slinging and scandals, the Americans have voted and...
Do you mind the gap? toblerone
The makers of Toblerone, Mondelez, have taken the decision to widen the gaps between the...
Should Nigel Farage be ennobled in the House of Lords? LONDON, UK - MAY 1, 2016: Nigel Farage seen arriving at the BBC to attend the Andrew Marr show
There are calls for Nigel Farage to be made a Lord and take his place as a peer in the upper...
Should the FA defy the poppy ban? poppy
England are due to host Scotland at a World Cup qualifying match at Wembley on November 11 ...
Who would you trust more to be the next US President? LONDON UK - MARCH 3RD 2016: Hillary Clinton and Donald Trump pin badges over the American flag symbolizing their battle to become the next President of the United States 3rd March 2016.
With the latest results today from ABC/Washington Post tracking poll, now showing Donald Trump...
Should the UK have a complete ban on selling Ivory products? ivoryburn2 900x600
Hugh Fearnley-Whittingstall, chef come wildlife campaigner, has been looking into the shocking...
Do you think Princess Beatrice and Eugenie should be given royal duties? London UK - June 17 2006: Princess Eugenie (left) and Princess Beatrice seating on the Royal Coach at Trooping the colour ceremony also known as the Queen's Birthday Parade
** Note: Slight blurriness, best at smaller sizes
It was revealed in the sunday papers that there is a nasty feud brewing between Prince Charles and...
Do you rake or vacuum? Yorkshire Dog on the autumn leaves blur
Autumn is in full swing, and the leaves are rapidly changing from luscious shades of green, to a...
Where do you think the extra runway should be built - Heathrow or Gatwick? Airplane touch down on runway during sunset
Since the 1970s various UK governments have been debating how to expand the UKs potential to...
Are the Government right to do a Pension U-turn? bigstock-Pensions-11274911
The government has done a huge U-turn on Pensions and scrapped the rights of 5 million pensioners...
Do city zoos still have a place in a modern society? gorilla in zoo
Last week’s incident at London Zoo, in which a male silverback gorilla escaped his enclosure...
Are hospital trusts cashing in on the sick? Ticket machine at the exit of a car park
Patients in England are being penalised with increasing parking charges with 30% of hospital...
Is BA trying to pull the wool over our eyes? BARCELONA SPAIN - DECEMBER 11: A British Airways Airbus A320 taking off on December 11 2014 in Barcelona. British Airways is the international airline of Great Britain with its headquarters in London.
Last week British Airways proudly announced that they will be partnering with Marks & Spencer...