Debt help


Back in April we talked about the potential ‘wave’ of fraudsters that would be eager to relieve unsuspecting people of their pensions.

This was all on the back of the Pension Freedom Act which came into force at the beginning of April this year allowing anyone over the age of 55 to gain early access to their pension pots.

It’s been widely reported in the media that there have been many scams trying to separate the over 55s from their well-earned pension funds but news today from Citizens Advice says that this has recently gained momentum with two out of every five of its pension staff seeing people repeatedly targeted with pension scams. A further 10% of its workers saw people who had either responded or fallen prey to a scam.

The BBC has today also reported that fraudsters are increasingly offering to invest cash into other scams with individuals being told that they should invest their cash into fine wine or a property abroad, without really explaining what people will actually get and without being actually qualified to give financial advice, in many cases.

Apparently, many non FCA-regulated internet sites that are trying to get people to invest their pension funds are suggesting average returns of 12-15% per year and other similar bold, unsubstantiated claims.

Whichever methods scammers use, it shows that they are developing their techniques and getting more and more creative in their methods for separating people from their pensions. It highlights the need for the over 55s to be extremely vigilant when looking to liberate their pensions, always seeking independent, expert advice and never being rushed into anything.

Unfortunately we have seen plenty of cases where clients on formal insolvency plans, such as an IVA, have been conned out of their entire pension pots by scammers and even being left with a hefty tax bill to boot. We always advise clients only to deal with pension advisors who are regulated by The Financial Conduct Authority and always sanity check any advice which recommends investing your pension in what may appear to be a high risk investment.

The Debt Advisor Ltd is regulated by the Financial Conduct Authority and the Debt Resolution Forum and we adhere to their strict codes and standards.

Call today on our freephone number 0800 085 1825 or alternatively you can use our contact form to request a callback.


Do you need help?

Specialist advisors are available who can advise you on the most appropiate solution to bring you relief from debt

More Posts From The Debt Advisor

Beverley Budsworth – The Debt Advisor FCA regulated Debt Solution Provider Judgments increasing against consumers Judgments in first quarter of...
Debt Relief Order changes – more people will qualify
The criteria to qualify for a Debt Relief Order “DRO” changes on 29 June 2021.  This will mean that around...
Mental Health – How to help yourself recover “Post Pandemic”
Mental Health - How to help yourself recover “Post Pandemic” PPSD* (post-pandemic stress disorder) Not (yet) an official term but...
Breathing Space debt respite scheme
What is Breathing Space? From May 4th 2021 new legislation will be brought into place to allow approved debt advisers...
How to improve my Credit Score?
Within the UK there are 3 main credit reference agencies, TransUnion, Equifax and Experian. All 3 work with banks, building...

We are proud of our 5* TrustPilot customer reviews

We are proud of our 5* TrustPilot customer reviews

The Debt Advisor Accreditations

There is an alternative free-to-consumer debt services from the Money Helper.

The Debt Advisor Accreditations

There are alternative free-to-consumer debt services from the Money Helper.

We’re ready to help with any debt problems

Social media

The Debt Advisor has a long and rich history of helping people and companies get past their debt problems. We welcome people to get acquainted with our company, history, team and to listen to the stories from the people we have helped.

Alternative free-to-consumer debt services are available from the Money Helper website.

Customer Support

18-22 Lloyd Street, Manchester, M2 5WA

Monday to Thursday: 9:00 am – 7:30 pm
Friday: 9:00 am – 3:30 pm

Company Registration: 06248441 | The Debt Advisor Limited is Authorised and regulated by the Financial Conduct Authority Reg No: 659920.

All debt solutions should be very carefully considered. Please note, if you are struggling with debt issues and need advice on your options, we’ll take a look at your financial situation and explain the available options. If it is appropriate to refer you to one of our trusted providers for a solution, we may get a fee for introducing you, or for the preparatory work we complete. Fees are payable if ongoing services are provided.

Copyright © 2022  The Debt Advisor | Privacy Policy | Cookie Policy | Complaints | Careers