Tue 31 Mar 2015
Sales News: warning: your hard earned pension pot could be at serious risk
As 6 April looms ever closer, this recent article in The Independent makes it quite clear that:
(a) the proposed government advice service, Pensions Wise, may be woefully under-resourced to help most people.
(b) there are companies setting up (and already no doubt set up) whose intentions may be to take advantage of a customer’s potential lack of financial awareness to enrich themselves.
The risk here is a very real one, and so anyone thinking of drawing upon a pension fund from 6 April needs to be completely satisfied in advance that they are using only reputable and regulated financial advisors, who will always put their customers’ best interests first.
At Crosby & Woods our assessment is that it would be prudent to exercise great caution at all times if you receive an unsolicited call, letter or email offering you advice on your pension, and to be on the safe side, to always carry out full due diligence checks on any advisor that you may be thinking of using.
The important message here must be that this is your pension – it represents for many people a lifetime of hard work, sacrifice and saving to ensure a financially secure retirement, so do not put that all at risk by acting in haste now, or without doing everything possible beforehand to completely satisfy yourself that you are in good and trusted hands.
For advice on managing your pension fund, please contact one of our specialist private client solicitors on 01273 734600 or email email@example.com