Say No to pension liberation

Regulators have closed down many ‘pension liberation’ companies but pension administrators have warned the Mail on Sunday of new scams.

Unauthorised firms are now trying to persuade people to move their pension pots into self-invested personal pensions and buy risky investments. One administrator said a £20,000 pension pot would typically yield a cash payment of no more than £5,000 to the owner, with the rest being paid out in taxes and fees.