Personal Pension  

Pensions unlocking advert is banned

Manchester-based Pensions Cash Now has been told by the Advertising Standards Authority that it must take down an online advert.

Website www.pensioncashnow.net, for Pension Cash Now, featured text which stated “Do you work in public services, NHS, councils, armed forces, Ministry of Defence, civil servants, teachers, aviation authority, nurses, police, fire brigade?

“The pension pots of loyal public servants are shrinking. If you do not submit your application to claim your cash now you could lose out on thousands. You can claim up to 20 per cent of your pension value at any age with zero impact on your retirement nest egg.

Article continues after advert

“If you have a pension worth £20,000 or more we can get you up to £5,000. Why should your money go in someone else’s pocket?”

Greater Manchester Pension Fund reported the advert to the ASA and challenged the claim that you could take 20 per cent of your pension value at any age with zero impact on your retirement nest egg.

The ASA agreed the advert was misleading and the claims could not be substantiated after Pension Cash Now did not respond to the regulator’s enquiries.

The ASA has ordered that the advert must not appear again in its current form.