When we buy certain products, they have a warning on them. Cigarette packets, for instance, state that smoking is bad for your health. The wrappers show hideous images of what might happen to you if you use tobacco. However, when it comes to investments, the ‘advisers’ selling dangerous investments are able to disguise the risks […]
Hidden charges that destroy your pension funds Read More »
The recent PSIG (Pension Scams Industry Group) Scams Survey Pilot 2018 has identified seven “key” findings in their survey. As scam watchers, we are well aware of these points and are, of course, glad they have been highlighted. PSIG’s key finding are set out below. So let us admit one key fact: ALL PENSION SCAMS START WITH A
Time for all pension providers to wake up and stop pension scams Read More »
Another victim of Berkeley Burke SIPPS investments into Store First storage pods has come forward. 55-year-old factory worker Robert McCarthy, of Ebbw Vale, said he has lost more than £30,000 through a Self-Invested Personal Pension (SIPP). He was duped into the transfer and investment by unregulated firm Jackson Francis which was liquidated in 2014. His investment
More negligence from trustees Berkeley Burke – Store First Read More »
Attention financial advisers in Spain/who provide financial advice to Spanish residents. 18th February 2019 DEATH OF THE LIFE BOND: The Spanish insurance and pensions regulator, the DGS, made a judgment against Costa Blanca-based Continental Wealth Management (CWM) on 10.1.2019. The order (translated and summarised below) confirmed that there are strict regulations in Spain for
Death of the Life Bond (Life of the Death Bond?) Read More »
The Spanish Insurance Regulator – the DGS (Dirección General de Seguros y Fondos de Pensiones) – has made a most welcome judgment. This outlaws the mis-selling of bogus life assurance policies as investment “platforms” – aka “life bonds”. Read the translated summary below. The iniquitous practice of scamming victims into these expensive, pointless bonds – so
No more bogus life assurance policies in Spain Read More »
Blacklist – “The Pension Scam (No 69)” By far the best US crime thriller series (IMHO) on Netflix has got to be Blacklist. Utterly mesmerising is the star Raymond Reddington (played by the superb James Spader). Reddington manages to be simultaneously as camp as a row of tents, and macho as the All Blacks. The
Blacklist – “The Pension Scam (No 69)” Read More »
The sophistication of investment scams has reached new levels in Singapore LeeSeongWee I “borrowed” this blog from my Twitter friend in Singapore who clearly understands and cares about investment scams – and the inability of the inept authorities to do anything about them. This is true not just in Singapore but throughout the world –
Sophisticated Scams in Singapore Read More »
Just as predicted, the scammers have managed to sidestep the cold-calling ban on pension selling by using a slightly different tactic. No surprise there then. Just as they morphed from pension liberation into high commission investments, it was only a matter of time – well just two weeks to be precise – before a firm
Is there no escape from the cold-calling, snake-oil salesmen? Read More »
Scammers who act as financial advisers and operate pension scams, don’t wear a badge to identify themselves – nor do they pay any redress for the devastation they cause. Oh no, of course they don’t! The scammers dress in snazzy suits, drive go-faster cars, sport posh briefcases and speak with a silky sales tune floating
POOF! – there goes your whole life savings Read More »
In January 2019, we saw legal challenges going forward against not one but two SIPPS providers for their roles in using and promoting unregulated investments. Berkeley Burke SIPPS Administration and Carey Pensions (the latter now owned by rogue QROPS trustee firm STM Group). Money Marketing has published an interesting article: ´SIPPS providers gear up for landmark court action´. They
Shaping the future of mis-sold SIPPS Read More »
In the Pension Life office, we have been wondering how to get the information about pension scams more widely seen, heard and taken on board. We’d like to ensure the masses are educated and aware that pension scammers can strike from many angles, and with a variety of “deals”. Pension scammers must be stopped and
Pension scammers must be stopped Read More »
In many pension scam cases, we find victims telling us that they were not informed about the hidden charges that were applied to their fund. This is why it is essential to warn the public about the hidden dangers of charges that ruin your pension investments. These charges often take a huge chunk out of
Hidden dangers of charges that ruin your pension investments Read More »
