Investment - Articles - Comment from JLT on pension investment scams

 "Pension freedoms have increased interest among scheme members and policyholders and the early days have revealed a huge increase in the number of people accessing cash. This interest has also inevitably attracted the gaze of scammers all too willing to help relieve individuals of their new wealth, with too good to be true investment schemes. Unfortunately, once monies are outside of the safer haven of the pension scheme and the normal pension scheme transfer process, there is less protection for the unwary.

 More will need to be done to help educate people about the options they have and what they can do with those options, and that help must come at the point of making the choice of cash or annuity or drawdown of some form. Advice will not suit everyone, so good quality guidance at an affordable price must be available and must become the norm.

 Our experience is showing that the initial rush to cash is moderating a little, so hopefully things will calm over the months ahead."