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PENSION OMBUDSMAN COMPLAINTS AGAINST NEGLIGENT CEDING TRUSTEES

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Pension Life is now submitting complaints to the Pensions Ombudsman against ceding pension trustees who handed over members’ pension funds to scams and scammers.  These negligent transfers have ruined thousands of lives and cost victims hundreds of millions of pounds’ worth of losses.  Some victims have already died and others are contemplating suicide.  Complaints against  negligent […]

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Ten Essential Standards For Pension Advice

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Ten Essential Standards For Pension Advice: The ongoing war against pension scammers continues with no sign that the end is near.  The authorities stand idly by – facilitating mis-selling and outright fraud. HMRC happily registers pension scam after scam after scam (followed by tax demands).   Prosecutions are few and far between. The only conclusive way to

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Time for all pension providers to wake up and stop pension scams

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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

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Cold calling scammers target expats after the ban in UK – BBC4 You and Yours

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Every year we are seeing an increase in the number of victims falling for pension and investment scams. Despite warnings in the public domain and a huge array of information about how to avoid falling victim to a scam, it seems the scammers are so skilled at their sales techniques, that even the cleverest of

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More negligence from trustees Berkeley Burke – Store First

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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

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Death of the Life Bond (Life of the Death Bond?)

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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

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No more bogus life assurance policies in Spain

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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

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Is there no escape from the snake skinned con men?

Is there no escape from the cold-calling, snake-oil salesmen?

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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

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