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Post by Admin on Nov 9, 2014 6:56:33 GMT
Here, victims are told they can release their pension funds before they reach 55 years old – but this is only possible in rare cases such as terminal illness. These schemes can result in tax charges and penalties of more than half a member's pension savings. Andrew Warwick-Thompson, of the Pensions Regulator, said: "We continue to see perpetrators targeting individuals, some of whom are in severe financial difficulties such as bankrupts, via cold calling, text messaging and website offers. "These scams will entice you with access to your pension early, but in reality you are likely to face substantial tax charges, leaving you with little or nothing for retirement."
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