Illegal Pension transfer

robertajane

HI,
I transferred a private pension I had into cash in 2002 after being made redundant. The "Financial advisor" that did it for me, led me to believe it was safe to do via a legal loophole at the time ? I have not invested the money but apart from a brief period of employment, I have lived on this money as I have been unemployed for a lot of the time.
The Revenue now want a substantial sum of money from me in tax which frankly I do not have.

What should I do or who shoud I talk to about this ?

thanks in advance,
Roberta Jane Upton

EdInvestor

robertajane wrote:

HI,
I transferred a private pension I had into cash in 2002 after being made redundant.

Was this a company (occupational) pension or a personal pension? If the latter it would be interesting to hear exactly how it was done.

Pal

EdInvestor wrote:

Was this a company (occupational) pension or a personal pension? If the latter it would be interesting to hear exactly how it was done.

And if it was the former than the the Pensions Regulator would be interested, as someone (not you) could be due a spell in prison!