Anyone know anything about pension release firms?

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catlover32
catlover32 Posts: 35 Forumite
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in Reclaim mortgage fees, council tax, etc
I've heard about these vaguely and had a quick look online, but don't know if they're any good/ charge large fees? I can't find anything on this site about them.

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  • Annisele
    Annisele Posts: 4,828 Forumite
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    They're scams.

    This factsheet is a few years old, but the principle hasn't changed.
  • dunstonh
    dunstonh Posts: 116,596 Forumite
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    Agree with annisele. Most are scams. Some actually do transactions that could leave you facing a 55% tax bill down the road when HMRC find out (and they will because its logged under NI number).
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • gingertips
    gingertips Posts: 133 Forumite
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    I know someone who works for one of these firms - the whole thing is a con pretending your pension is being moved offshore which they take a large commission for doing...then when the HMRC find out (& be in no doubt about the fact that they will find out) you will be stung for tax...

    not worth it
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