16 June 2011
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
