The Pensions Regulator has circulated a warning about organisations encouraging pension scheme members to cash in their pension early. These fraudulent operators may encourage you to transfer to a bogus ‘pension liberation scheme’, not mentioning the associated and very large tax penalties. This applies to schemes in the UK as well as those overseas.
Click here to read an advice leaflet, which contains information about the warning signs and guidance on what to do if someone approaches you offering cash back from your pension. For more information on pension scams, click here.