17th June 2013

L&G: Exposing the pension liberation predators

Pensions Strategy Director, Adrian Boulding offers his opinion on pension liberation predators and outlines the steps Legal & General have put in place to protect customers.

With a huge rise in the value of ‘liberated’ funds from £25 million in 2010 to almost £200 million at the end of 2011, it’s clear that these predators are increasing their activity, and there’s a growing threat to customers’ retirement savings from fraudulent offers to ‘unlock’ their pension. Responding to the alert from The Pensions Regulator, we’ve taken radical steps to protect against pension liberation schemes.

We've put in place a series of due diligence tests that will enable us to expose the schemes we have concerns about and to thwart this activity. We’ll also be asking for a lot more information and evidence from these people before we release our customers’ money to them.

You can access Adrian's Opinion piece here.

Contact us. For further information please contact your Legal & General representative. Alternatively call 0370 050 0614*  Lines are open from 9am to 5pm Monday to Friday.  *We may record and monitor calls. Call charges will vary.

Pensions