Scammers can be knowledgeable with credible testimonials and professional materials that are hard to distinguish from the real things.
If you transfer into a scam you run a real risk of losing a significant amount, if not all of your pension savings, as well as high commission or arrangement fees.
Accessing your pension early is only allowed under very special circumstances such as ill health. If you transfer and access your pension before age 55, you will face significant tax penalties of up to 55% of the value of your pension.
This means you may end up receiving very little or none of your original investment and you could end up owing HMRC money.
The average victim loses £91k.
To find out more about pension fraud and what to do if you think you have been targeted visit the Pensions Regulator's website.
The North East Scotland Pension Fund is pleased to introduce its new website.
The Fund’s unaudited annual accounts for 2019/20 are now available for public inspection until 22 July 2020.
Information on the McCloud Judgement, which relates to two employment tribunal cases that were brought against the Government.
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