Pension Choice Solutions

Benson7150

Hi all,
has anybody had any dealings with this company usually rings from a Southend number.
any advice gratefully received 
thanks 

Albermarle

I do not know this company but their website and what they offer would make be a bit nervous .
What is it that you are thinking about doing /what are they suggesting ?

Benson7150

They are asking me to transfer £53,000 to raise £10,000 cash for me. They state I will not be liable for tax etc . Not done anything yet just seems to good to be true that my capital will not be affected 

squirrelpie

I expect you're right that it's too good to be true. They have a web site that offers a Southend phone number as well as a Spanish one, but no address and I can't find an address for them. They say: "In accordance with the Financial Services and Markets Act 2000, we do not provide any financial or pension advice. We are not authorised or regulated by the Financial Services Authority, we are an independent marketing company and act solely as introducer to specialist pension transfer companies."

So it seems clear they are not people you will/should actually be dealing with. If you take it further, make sure to find out the name and address etc of the firm you will actually be dealing with and check that they ARE regulated!

coyrls

Benson7150 said:

They are asking me to transfer £53,000 to raise £10,000 cash for me. They state I will not be liable for tax etc . Not done anything yet just seems to good to be true that my capital will not be affected 

How old are you?  If you are under 55 it can't be done.  Can you see the flaw:  "Give me £53,000 and I'll give you £10,000, oh don't worry about the remaining £43,000 I will look after it for you"?

Benson7150

I’m 51 and had to recently retire early to look after an elderly parent. I have 4 different pensions and was looking for a way to draw some cash from them before 55. Any ideas ? 

Paul_Herring

has anybody had any dealings with this company usually rings from a Southend number.

Given the phrasing there - unsolicited?

If so, ignore. And put the barge pole down.

dunstonh

There is no company called Pension Choice Solutions on the FCA register.    And cold calling on pensions is banned.

They are asking me to transfer £53,000 to raise £10,000 cash for me. They state I will not be liable for tax etc . Not done anything yet just seems to good to be true that my capital will not be affected 

If they are not authorised by the FCA then they do not hold the legal permissions to carry out that business.    So, if they are telling you to do this then they are in breach of UK law.

I’m 51 and had to recently retire early to look after an elderly parent. I have 4 different pensions and was looking for a way to draw some cash from them before 55. Any ideas ? 

You cannot access your pension before the age of 55 unless seriously ill or if you have a rare protected scheme age.   Only scammers tell you that you can otherwise.

https://www.pensionsadvisoryservice.org.uk/content/publications-files/uploads/members_detailed_booklet_7_page.pdf

Albermarle

I have 4 different pensions and was looking for a way to draw some cash from them before 55. 

Any ideas ? 

Yes wait until 55, or you will be doing something illegal and will probably end up with nothing.

Silvertabby

Albermarle said:

I have 4 different pensions and was looking for a way to draw some cash from them before 55. 

Any ideas ? 

Yes wait until 55, or you will be doing something illegal and will probably end up with nothing.

..... and you'd still be liable for the tax due on the money you'd been scammed out of.

If any of your 4 pensions schemes are fairly old, it's worth checking with them to see if any of them do have reserved rights to access from 50.  It's a long shot, but if you don't ask you definitely won't get.  

As the others have said, don't touch PCS with a bargepole.  Have you already signed something, agreeing that they can act on your behalf?  If so, cancel that now - AND write to each of your pension providers to tell them that PCS are not/no longer authorised to act for you.

AnotherJoe

Benson7150 said:

I’m 51 and had to recently retire early to look after an elderly parent. I have 4 different pensions and was looking for a way to draw some cash from them before 55. Any ideas ? 

Anyone who has an idea is fraudster. Really. No exaggeration.

You'll have to wait until you are 55. Might seem tough but better than losing all your money which is the likely outcome. In some instances, MORE than all your money. Again, no joke.