Legislation designed to keep your pension pot safe
We would like to share with you news of some new legislation which is passing through parliament designed to keep your pension pot safe.
The Online Safety Bill is to bring an extra layer of protection to people’s retirement savings. Be aware of pension scams. If you are offered early access to your pension or a transfer to a scheme that simply seems too good to be true, chances are, it is.
The Financial Conduct Authority has put together some information on the topic on their website. We recommend you read this and consult a FCA authorised financial adviser for advice before making a financial decision.
Scams in general are on the increase including those calls, texts, and emails pretending to be from HMRC and the Department of Work and Pensions (DWP), preying on people who might be scared of tax inspectors. Please don’t be fooled by these scams, which can seem very convincing. The phone number can display like a genuine HMRC contact number. If you receive correspondence from HMRC or the DWP you are not expecting, or have any doubt at all about whether it is genuine, please seek advice before responding.