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Regulators Issue Warnings on Pension Loan Schemes

In recent months a number of pension schemes and companies have appeared claiming that they can circumvent the government's early access rules and release pension monies before age 55. Many claim to be able to do this via writing loans to members, although such actions are normally prohibited by HM Revenue and Customs. Both the Financial Services Authority (FSA) and The Pensions Regulator (TPR) have now published warning statements relating to such schemes. These statements can be found below:

TPR - Pension Liberation Statement 

FSA - Warning Over Pension Unlocking Schemes