Pensions Liberation Schemes – a significant new threat
13 March 2013 Pensions liberation schemes (whether advertised by cold call, email or text message) seem to be on the increase and are causing alarm bells. Pensions tax regulation is clear here: a member is able to receive 25% of accumulated capital back tax-free at the point of retirement but there are extremely restricted circumstances where an earlier return of capital is anything other than an unauthorised payment. There is also the risk of outright fraud with these schemes and a potential for full loss of the pension pot.
