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. Article continues after advert • 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.”
