Is your pension not performing as expected? Do you wish that you had left it where it was and not accepted the advice that you were given?
All may not be lost as you may have been mis-advised and may even be entitled to compensation!
The internet is full of websites offering advice about what to do with your pension but how do you know if the advice given is sound? After all, the adviser is going to make money out of the advice once accepted! Does the adviser really have your best interests in mind or is he/she more interested in the commission that they are going to earn?
There are also criminal elements whose sole purpose is to gain your confidence and access your pension!
- contact you out of the blue, either over the phone, text or email claim to know about loopholes that can help you get more than the usual 25% tax-free
- offer high returns of over 8% from overseas investments or new or creative investments
- offer a ‘loan’, ‘saving advance’ or ‘cashback’ from your pension
- suggest you put all your money in a single investment (in most circumstances, a financial adviser will suggest you spread your money across different schemes)
- send paperwork to your door by courier requiring an immediate signature.
- say they’ll help you access your pension pot before the age of 55 (unless you’re seriously unwell or have a certain type of scheme, this isn’t legally possible)
- pressure you into making a decision quickly
- only have a mobile phone number and/or a PO box address as contact details
If you’re planning to take your pension early, check whether there will be any penalties for doing so. If it’s a workplace pension, you may need your employer’s agreement to do so.
If you think that you have been mis-advised or duped by fraudsters contact us today on 01942 619911 for free and impartial advice.