Launch Pad: Sipp guide

The Pension Liberation Survival Guide, which is available on Liberty Sipp’s website, highlights five ways to see whether a liberation scheme is masquerading as a pension scheme for the purposes of transferring money.

The guide offers advisers and consumers a checklist to spot a pension liberation firm. The danger signs include:

• A client has been told to move a pension into a new company pension, despite the client not working for the company. Often the scheme will have been set up recently.

• A client has been told to move pension investments into a small company listed on a unusual stock exchange.

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• A proposed move of pension savings into an overseas trust that requires the establishment of of a management company

• A consumer offered a deal where their savings are lent to other savers while their cash is lent to the consumer.

• A client being told to move their savings into a commercial lending business which is prepared to lend back the money to them in return.

Adviser View

Dominic Basilea, director of Hertfordshire-based Aqua Wealth Management, said: “The more detailed information that we can get as advisers on this subject the better.”