{"id":264,"date":"2018-07-12T08:49:26","date_gmt":"2018-07-12T08:49:26","guid":{"rendered":"http:\/\/pensions.cardiffcouncilwebteam.co.uk\/?page_id=264"},"modified":"2019-02-28T09:20:44","modified_gmt":"2019-02-28T09:20:44","slug":"pension-scams","status":"publish","type":"page","link":"https:\/\/www.cardiffandvalepensionfund.org.uk\/about-the-fund\/pension-scams\/","title":{"rendered":"Pension Scams"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row top_padding=&#8221;0&#8243; bottom_padding=&#8221;0&#8243;][vc_column width=&#8221;1\/1&#8243;][vc_column_text]<\/p>\n<h1>Pension scams<\/h1>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row top_padding=&#8221;35&#8243;][vc_column width=&#8221;2\/3&#8243;][vc_column_text]All pension schemes are governed by regulations about when and how you can have your pension benefits paid.\u00a0 These regulations are in place to safeguard your benefits ready for your retirement.<\/p>\n<p>Regulations within the Local Government Pension Scheme (LGPS), allow you to take voluntary retirement from age 55. However, if you become too ill to work your pension may be paid earlier &#8211; this will need to be agreed by the Fund&#8217;s Independent Registered Medical Practitioner.<\/p>\n<h2>Don&#8217;t let a scammer enjoy your retirement!<\/h2>\n<p>If you are approached by a company who claim they can get your pension paid earlier &#8211; you need to very careful, as they could be scammers.\u00a0Don&#8217;t be fooled by their claims that they can help you draw your pension early because of a legal loophole, as this is NOT the case.<\/p>\n<p>If you decide to transfer your benefits from the LGPS to one of these schemes, please check all the fees and charges that may be payable from your pension pot.\u00a0 There could also be a heavy tax charge to pay, as your pension benefits are being paid earlier than they should.\u00a0 As a result, you may lose most or even all of your pension pot! So don&#8217;t get caught by this pension scam!<\/p>\n<p>Always consider seeking Independent Financial Advice before making any decision to transfer your benefits from the Local Government Pension Scheme.<\/p>\n<p>For more information please visit <a href=\"https:\/\/www.thepensionsregulator.gov.uk\/pension-scams\" target=\"_blank\" rel=\"noopener noreferrer\">The Pension Regulator <i class=\"fa fa-external-link\" aria-hidden=\"true\"><\/i><\/a>.[\/vc_column_text][\/vc_column][vc_column el_class=&#8221;siderow&#8221; animation=&#8221;fade-in-from-right&#8221; width=&#8221;1\/3&#8243;][vc_column_text el_class=&#8221;boxblue&#8221;]<\/p>\n<h3><strong>Financial Conduct Authority<\/strong><\/h3>\n<p>Information on how to protect your pension.<\/p>\n<p><a href=\"https:\/\/www.fca.org.uk\/scamsmart\/how-avoid-pension-scams\" target=\"_blank\" rel=\"noopener noreferrer\">Avoid Pension Scams <i class=\"fa fa-external-link\"><\/i><\/a>[\/vc_column_text][vc_column_text el_class=&#8221;boxblue&#8221;]<\/p>\n<h3>The Pension Regulator<\/h3>\n<p>Visit the Pension Regulator website to find out more about pension scams<\/p>\n<p><a href=\"https:\/\/www.thepensionsregulator.gov.uk\/en\/media-hub\/press-releases\/use-your-eyes-and-ears-to-avoid-pension-scams,-tpr-warns\" target=\"_blank\" rel=\"noopener noreferrer\">The Pensions Regulator <i class=\"fa fa-external-link\" aria-hidden=\"true\"><\/i><\/a>[\/vc_column_text][vc_column_text el_class=&#8221;boxred&#8221;]<\/p>\n<h3>Got a question?<\/h3>\n<p><a href=\"https:\/\/www.cardiffandvalepensionfund.org.uk\/get-in-touch\/\">Get in touch<\/a> with us[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row top_padding=&#8221;0&#8243; bottom_padding=&#8221;0&#8243;][vc_column width=&#8221;1\/1&#8243;][vc_column_text] Pension scams [\/vc_column_text][\/vc_column][\/vc_row][vc_row top_padding=&#8221;35&#8243;][vc_column width=&#8221;2\/3&#8243;][vc_column_text]All pension schemes are governed by regulations about when and how you can have your pension benefits paid.\u00a0 These regulations are in place to safeguard your benefits ready for your retirement. Regulations within the Local Government Pension Scheme (LGPS), allow you to take voluntary retirement from age 55. However, if you become too ill to work your pension may be paid earlier &#8211; this will need to be agreed by the Fund&#8217;s Independent Registered Medical Practitioner. Don&#8217;t let a scammer enjoy your retirement! If you are approached by a company who claim they can get your pension paid earlier &#8211; you need to very careful, as they could be scammers.\u00a0Don&#8217;t be fooled by their claims that they can help you draw your pension early because of a legal loophole, as this is NOT the case. If you decide to transfer your benefits from the LGPS to one of these schemes, please check all the fees and charges that may be payable from your pension pot.\u00a0 There could also be a heavy tax charge to pay, as your pension benefits are being paid earlier than they should.\u00a0 As a result, you may lose [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":146,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pension Scams - Cardiff and Vale Pension Fund<\/title>\n<meta name=\"description\" content=\"Learn about Pension Scams, what they are and how to avoid them to help safeguard your benefits ready for your retirement.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cardiffandvalepensionfund.org.uk\/about-the-fund\/pension-scams\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pension Scams - 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