www.pensioncashtoday.com

Scam Warning

2nd of Dec, 2011 by ThinkPositive-IFA

Just a warning that this website www.pensioncashtoday.com is advertising that using their "service" you can cash out 50% of your pension fund no matter what your age.

Well, I have been an Independent Financial Advisor specializing in pensions for the past 17 years, and I can categorically tell you that not only is it not at all legally possible to take anything from a UK pension before the age of 55, at which point you can legally take 25%. This company is flouting the law as not only are they not FSA Regulated, they also have no contact details on their website, so are most likely to be operating offshore. Indeed checking the registration information for the website tells me it was registered by a web-design company called Benalmedia, who operate from Benalmadena on the Costa Del Sol in Spain.

Even if this were not just a total scam to part you with your money, even if they were to give you 50% of your pension sooner or later you would be in a lot of trouble when HMRC found out about it, at which point you would receive a 55% tax bill from HMRC for acting outside of the rules in accessing funds from your pension.

As part of a secret shopper exercise I put in an enquiry in to the pensioncashtoday.com website. Within minutes I received a call back on a withheld number from an aggressive salesperson claiming to be from a separate company called IPI Services (www.ipi-services.com, 1 page fake site, again no contact details), who then attempted to use the sort of the high pressure sales tactics employed by boiler rooms the world over on me to get me to agree to this folly.

Quite clearly the people behind the pensioncashtoday.com website are operating a scam. This information I have passed on to the Financial Services Authority, but I suspect as these conmen are operating outside of the UK there will be very little the FSA will be able to do.

You have been warned!
Best Regards
an IFA, thinkpositive.co.uk

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Comments

4135 days ago by Bmorrison93

I have been scammed by IPI for my three pensions invested to them, they took £53000, now their website is down, telephone disconnected and they don't reply to my emails.
I feel suicidal, all my life saving is gone.