THOUSANDS CAUGHT UP AS PENSIONS PLUNDERED BY ROGUE INVESTMENT SCAMS

THOUSANDS CAUGHT UP AS PENSIONS PLUNDERED BY ROGUE INVESTMENT SCAMS

Retirement plans for people from a number of sectors have been affected

Public service workers including police officers, nurses and teachers are among thousands of people caught up in pension scams which have seen their retirement pots plundered.

An investigation claimed rogue investment schemes registered with HMRC sought about cold-calling savers to transfer their pensions over, seducing them with offers of better financial returns on their investments.

But many of those new schemes were later wound up, with savers having lost crucial funds to support them through retirement.

In another blow, HMRC is said to be contacting some victims over concerns the transfer had broken the law because tax was not paid to remove their pensions and invest them elsewhere.

Published: by Radio NewsHub
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