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Do you feel well informed about potential pension scams?

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

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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)

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