In these challenging times, pension savers are being increasingly targeted by scammers attempting to lure them to ‘safe havens’. We recommend you exercise extreme caution if you are considering transferring your pension and visit ScamSmart which has specific guidance relating to COVID-19.
The FCA in conjunction with the TPR have also recently published a helpful fact sheet on DB transfers. Please click on the link below and read this if you are thinking about, or in the process of, transferring from your DB scheme:
Considering a pension transfer: defined benefit
For more information you can also contact the Pensions Advisory Service which is free and provided by the Government.
The UK Pensions Minister, Guy Opperman, and the various pension regulatory bodies have also issued a document which helps answer many of the questions you may have on how the current economic environment could affect your pension and retirement plans, click the link below to download.
COVID-19 and your pension - where to get help
If you have any further questions, please contact email@example.com or call us on 0113 234 5500.