Three Magic Words That Give Away A Pension Scam

Consumer watchdogs have a list of three magic terms that reveal a pension liberation scam. After analysing sales techniques and complaints about pension liberation scams, the watchdog has discovered that most fraudsters try to entice their victims with the three terms. Pension Life runs a service that offers kite marks to identify good pension advisors … Read more

How Pension Freedom Rules Affect You

The rules about how retirement savers can take the money from their pensions changed on April 6, 2015. From this date, anyone over 55 years old with a direct contribution pension can draw their money to spend or reinvest as they wish, whether they are still working or not. For savers under 55, the money … Read more

HMRC Fires Angry Warning To QROPS Savers

If an expat transfers their cash to an offshore pension scheme that’s not a Qualifying Recognised Overseas Pension Scheme (QROPS), the tax man will have little sympathy. In a sharp notice published in the latest HM Revenue & Customs (HMRC) Pension Schemes Newsletter for providers and advisers, the tax man talks about ‘numerous requests’ received … Read more

What’s The Difference Between A ROPS And A QROPS?

Qualifying Recognised Overseas Pension Scheme (QROPS) have led the way as offshore pensions for expats since April 6, 2006 – but now a new pension is taking over. A Registered Overseas Pension Scheme (ROPS) has suddenly taken the place of QROPS on most HM Revenue & Customs (HMRC) guidance. So what is a ROPS? Offshore … Read more

IFAs Give Pension Transfers To Unauthorised Advisers

Financial watchdogs are cracking down on UK based IFAs who are outsourcing to unauthorised advisers to switch pension companies for clients. The Financial Conduct Authority (FCA) has accused several IFAs of requesting unregulated advisers to transfer pensions into self-invested pension plans (SIPPS) or Qualifying Recognised Overseas Pension Scheme (QROPS). In some cases, the investment risk … Read more