If you are considering taking a transfer from the Plan, please be aware of pension scams – see the Pensions Regulator’s warning leaflet. Typically these scams offer loans or cash incentives so that people can access (or “liberate”) their pensions earlier than age 55 and/or provide an array of investments promising remarkable rates of return.

The promoters of these scams often fail to provide and/or give misleading information about the tax consequences for you and the fees they take for themselves. See also the Pensions Regulator’s awareness leaflet and “are you scammable or scamproof?” information form for further details.

If you wish to find out more and/or talk through any of your concerns, you may wish to contact the Pensions Advisory Service.