We have been informed by the police that there is a scam going on outside Morrison’s. Women of a certain age are being targeted by someone telling them they have dropped £10. They are putting the money in the purse for them but taking their bank card. We are asking people to be cautious.
Watch out for companies claiming they can help you get the money from your pension before you are 55, you will lose over half in tax, and up to a third in fees to them.
They may also encourage you to put the cash into investment schemes that put your money at risk.
DO NOT TRUST any offer to get your pension cash before you are 55, there are no legal loopholes like they say. If you are thinking of taking a large cash sum from your pension, it’s sensible to get independent advice on what to do with it.