Unlocking Your Pension

SailorSam

I've often seen threads started on here where people have asked advice as to how they can unlock their pensions early. If you've considering that i hope you've just been listening to Paul Lewis on Radio 4 Moneybox.
He did a spot warning that firms are advertising on the Internet to say they have a way of getting around the law by investing overseas, companies are offering half your pension up front and the rest 'safely' invested abroad, but are then closing without trace. The sample figures they gave where someone with a £20k pension pot would only get £!0k, the rest invested for the future, but can expect to pay up to £4k in charges leaving only £6k. Then to make matters worse the taxman could come back and ask for 40% of the total pension (£8k), so you could end up with no pension and a bill for tax.
Anybody thinking of cashing-in their pension should go and listen to this first,

atush

This is covered thoroughly in the 'can I cash in my pension' sticky, but tyhinks anyway as it is always a good reminder to those who might be tempted.