Scam warning over pensions legislation

Be aware of pension scams – that is the message from Nottinghamshire County Council’s trading standards team as new legislation comes in giving people greater access to their own pension funds.

From April, new legislation means people have greater freedom to withdraw money from their pension fund.

A spokesman said: “There is a danger unscrupulous firms will try to con people into parting with their hard earned pension savings.

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Scams may involve trying to make people transfer their pension pot to a new scheme or investment which could have very low returns. We’re encouraging everyone to look out for schemes that sound too good to be true.”