Portafina letters release your pension money

daz378

Came through the letterbox...don't  need any money from my pension...they are a legitimate  company....people could be tempted  with such a letter....just curious  your average punter may not  excercise due diligence...would it be a good idea to use  them.  .checked on trust pilot some good reviews...but also some bad reviews

Malthusian

Portafina (previously Portal Financial) do not have a good reputation here and have been involved in the flogging of toxic unregulated junk.

Trustpilot should never be used to research financial companies. Trustpilot reviews are meaningless when it comes to financial products; they are usually from people who have only just started using the service, years before an ordinary investor can tell whether they have done well or badly. It has endorsed numerous scams like Blackmore Bonds with five star ratings.

Throw the letter in the bin. Never engage with any financial firm that cold calls or sends unsolicited spam. If you want some advice regarding how to draw on your pension or retirement planning in general, look for an independent financial adviser.

Lemon_dr1zzle

Barge pole! 

daz378

Thanks I suspected  this

NedS

{QUOTED POST REMOVED BY FORUM TEAM}

I'm sure I've seen adverts popping up on Facebook for them (Portafina) recently. I definitely recognise the name so have seen them advertising somewhere.

Malthusian

Yeah, someone in the comments below my link said that the people behind Portafina / Portal had started a new company with the same name.

I don't get it - they would need to apply for new permissions from the FCA, and surely even the FCA aren't that daft. And as per artyboy, surely you'd pick a new name?

ian16527

I have had a few letters recently from this company, one 2 weeks ago
They are claiming to get your tax free cash out if I remember correctly before shredding the letter
At the bottom of the letter is small print it tells you where they got your name from.
In my case it looks like it was from Experian and the only contact with these is via the moneysaving expert credit score account, so not sure if Experian are selling the details

Albermarle

They are claiming to get your tax free cash out if I remember correctly before shredding the letter

As anybody can get their tax free cash out once they reach the required age ( 55-57) I presume this company is claiming they can get it out earlier ?

daz378

No   I think they were just offering the 55 + service....I'm not actually thinking of withdrawing any pension...in fact I'm trying to build up extra savings....

Albermarle

daz378 said:

No   I think they were just offering the 55 + service....I'm not actually thinking of withdrawing any pension...in fact I'm trying to build up extra savings....

Many companies offer their services to organise and manage drawdown of pension pots, which will often include withdrawing the 25% tax free cash. So nothing unusual about that as such, just the company offering it !