Scammed out of over £25,000.... :( Be WARNED

[earwig999]

Very long story, but basically transferred my pension into another scheme with the enticement of a 'rebate' for doing so. The rebate was to fund a trip to Florida to visit my Dad who we had not seen in over 8 years, he has never even met his grandson.

I was introduced to the company offering the scheme by Free My Pension - Take Control or your future!

They put me in touch with PARMS LTD. - Pension, Asset & Remuneration Management Services who explained the transfer process etc.

They then use IMAC PENSION SERVICES LTD. Free business summary taken from official Companies House information. Free Alerts. Imac Pension Services to act as an administrator for the whole process.

The scheme I was transferring into was called Merseyside Care RBS. and so on.

A number of companies and contacts. I did some due diligence and discovered that PARMs and Imac were both registered at the same building along with Aims Finance.

Anyway transfer took 6 months went through and then within 3 days of being transferred has now been frozen and can't access, and guess what no rebate.

To make things worse my step mum suffered a very severe stroke during this so our visit would have been good timing to support my Dad. Our kids are both gutted as they were so excited looking forward to going to Disney and Universal and now these scammers have fecking killed me. I knew it wasn't a 100% legit thing but I know people that have gone through a similar process and have received their money.

Anyway after ringing various numbers and pestering various people I finally got a number for Duncan Bennett a Director for Aims Finance - 07920 128853 - I found him on Twitter https://twitter.com/duncbennett and Linkedin http://www.linkedin.com/profile/view?id=51738787&locale=en_US&trk=tyah&trkInfo=tas:dunc

He's a monkey the organ grinder is Chris Knight - https://twitter.com/Chrisiknight and http://www.linkedin.com/profile/view?id=91676983&locale=en_US&trk=tyah2&trkInfo=tas:chris knight

I think the company used to be owned by a guy called Adam Bennett, but he seems to have vanished - Pushy claims company is forced to back down | The Crusader | Finance | Daily Express

I found a number for another Bennett - Tony Bennett Sales Manager for Aims - 07764 408232

I'm so mad I was going to pay the offices a visit but I very much doubt they are even based there. Looks like Chris has been spending his hard earned money by sponsoring Blackburn Rovers, buying a nice Ferrari and a Porsche.

 

[Him Her]

Very long story, but basically transferred my pension into another scheme with the enticement of a 'rebate' for doing so. The rebate was to fund a trip to Florida to visit my Dad who we had not seen in over 8 years, he has never even met his grandson.

I was introduced to the company offering the scheme by Free My Pension - Take Control or your future!

They put me in touch with PARMS LTD. - Pension, Asset & Remuneration Management Services who explained the transfer process etc.

They then use IMAC PENSION SERVICES LTD. Free business summary taken from official Companies House information. Free Alerts. Imac Pension Services to act as an administrator for the whole process.

The scheme I was transferring into was called Merseyside Care RBS. and so on.

A number of companies and contacts. I did some due diligence and discovered that PARMs and Imac were both registered at the same building along with Aims Finance.

Anyway transfer took 6 months went through and then within 3 days of being transferred has now been frozen and can't access, and guess what no rebate.

To make things worse my step mum suffered a very severe stroke during this so our visit would have been good timing to support my Dad. Our kids are both gutted as they were so excited looking forward to going to Disney and Universal and now these scammers have fecking killed me. I knew it wasn't a 100% legit thing but I know people that have gone through a similar process and have received their money.

Anyway after ringing various numbers and pestering various people I finally got a number for Duncan Bennett a Director for Aims Finance - 07920 128853 - I found him on Twitter https://twitter.com/duncbennett and Linkedin http://www.linkedin.com/profile/view?id=51738787&locale=en_US&trk=tyah&trkInfo=tas:dunc

He's a monkey the organ grinder is Chris Knight - https://twitter.com/Chrisiknight and http://www.linkedin.com/profile/view?id=91676983&locale=en_US&trk=tyah2&trkInfo=tas:chris knight

I think the company used to be owned by a guy called Adam Bennett, but he seems to have vanished - Pushy claims company is forced to back down | The Crusader | Finance | Daily Express

I found a number for another Bennett - Tony Bennett Sales Manager for Aims - 07764 408232

I'm so mad I was going to pay the offices a visit but I very much doubt they are even based there. Looks like Chris has been spending his hard earned money by sponsoring Blackburn Rovers, buying a nice Ferrari and a Porsche.

Oh Shit Sorry to hear that M8. If you want to PM me some detail I'll dig around and see if I can do anything.

Anyone else has an 'investment opportunity' please, please post on here. I'm no guru but I know shit when I smell it and I'll do my best to advise.

 

[Him Her]

Okay, I know I may get 'shot' for this, know-all blah-blah but this is the deal.

When you hit 55 you can take 25% of your private pension tax free. You do NOT need someone to 'help' you do this. If you PM (or post here) I'll explain how for free. I'll try and advise you why you should (or shouldn't). If you prefer, then PM. I'm no financial adviser so I can only give my opinion - end of the day you'll have to choose.

@Mods - happy to help members but in this area it's my opinion, no more.

 

[D 8 RCS]

Okay, I know I may get 'shot' for this, know-all blah-blah but this is the deal.

When you hit 55 you can take 25% of your private pension tax free. You do NOT need someone to 'help' you do this. If you PM (or post here) I'll explain how for free. I'll try and advise you why you should (or shouldn't). If you prefer, then PM. I'm no financial adviser so I can only give my opinion - end of the day you'll have to choose.

@Mods - happy to help members but in this area it's my opinion, no more.

Many pension funds allow you to take your pension (of which you can commute up to 25% of the fund as a tax free lump sum - which in most cases is the best thing to do, as any other payments from the fund are taxable) from age 55, but not every pension fund allows payment prior to age 62.
As @himHer says those that do allow you access after age 55, it can be arranged by yourself and at no cost.
However, I would add that in most cases it is best to leave your pension fund untouched until you have actually retired and are no longer earning.

 

[D 8 RCS]

@earwig999 Sorry to hear about your predicament and I think it may be worth your while getting in contact with either the FPC the Financial Policy Committee, or PRA the Prudential Regulatory Authority. These 2 used to be FSA the Financial Service Authority until April of this year and they regulate the behaviour of most pensions and investment companies and they have the power to investigate and punish any of the companies who are not abiding by the regulations.
I'm sorry that I can't give you anymore information on the FPC and PRA as I only really knew about the FSA from when I used to be a Financial Advisor (which is nothing more than a posh name for an Insurance Salesman) over 15 years ago.

 

[djray]

Okay, I know I may get 'shot' for this, know-all blah-blah but this is the deal.

When you hit 55 you can take 25% of your private pension tax free. You do NOT need someone to 'help' you do this. If you PM (or post here) I'll explain how for free. I'll try and advise you why you should (or shouldn't). If you prefer, then PM. I'm no financial adviser so I can only give my opinion - end of the day you'll have to choose.

@Mods - happy to help members but in this area it's my opinion, no more.

is there a way to find out if your company pension will pay out the 25% thing aged 55 ??
i'm clueless when it comes to these things, but reading the main post.
these heartless bast&rds need shot, unreal how they can get away with it !!

 

[Him Her]

@earwig999 - as the administrators, Imac are responsible. They appear to be authorised by the regulator but scammers are known to use similar names. If they are legit they will have an authorisation number and are required to provide it to you. Use this number to check their authorisation is current and valid:

Prudential Regulation Authority - Bank of England | Prudential Regulation Authority | Contact the Prudential Regulation Authority

Financial Conduct Authority - Contact us - Financial Conduct Authority

Check any paperwork you have to determine how the 'rebate' would have been funded. Is it an entirely UK-based scheme?
Authorised firms may fall under the Financial Services Compensation Scheme:

FSCS - Your Savings accounts are FSCS Protected - Peace of Mind with the FSCS

If all this hits a dead-end report it as potential fraud to the Police and get a crime reference number. That way is any prosecutions result from their actions your claim is registered.

You didn't say how old you are - under 55 pension liberation is VERY risky.

Hope it works out M8 - I'll continue digging around and let you know if I find anything useful.

@djray - "is there a way to find out if your company pension will pay out the 25% thing aged 55 ??"

You would have to trigger a payout, it won't be automatic. You should be aware that some schemes charge a fee if you action this before your declared/expected retirement date. Also, it will reduce your final pension so it's not suitable for most people. Under 55? Don't go anywhere near it as it will almost certainly result in a huge penalty from HMRC.

 

[D 8 RCS]

Excellent advice @himHer !! Rep added.

 

[earwig999]

Quick update.... There will be an article in the Sunday Times regarding this tomorrow.

 

[earwig999]

Steer clear of pension ?liberation? | The Sunday Times

 

[Rumpelstiltskin.]

This was all that was written.


Steer clear of pension ‘liberation’
Schemes that promise to unlock savings for the under-55s could lead to a miserable retirement


WORKERS face financial ruin if they fall for a pension scam that could wipe out their retirement savings and run up a huge tax bill.

An investigation by The Sunday Times has revealed that crackdowns by police, regulators and the taxman have failed to stop the sharks who promote these toxic schemes.

Companies such as freemypension.co.uk and Pension Release NI promise to unlock cash from your pension while you are under 55 — even though this cannot be done lawfully without incurring a tax charge of up to 55% of the fund.

The companies collect eye-watering charges and the remaining savings are invested in obscure vehicles, usually held overseas. This money may never be recoverable.

Sean Browes of Dalriada Trustees, the independent pension trustees firm, said: “They call it pensions liberation. It isn’t liberation. It is pensions destruction. Some people have lost all their pension and face a tax charge on

 

[earwig999]

This was all that was written.


Steer clear of pension ‘liberation’
Schemes that promise to unlock savings for the under-55s could lead to a miserable retirement


WORKERS face financial ruin if they fall for a pension scam that could wipe out their retirement savings and run up a huge tax bill.

An investigation by The Sunday Times has revealed that crackdowns by police, regulators and the taxman have failed to stop the sharks who promote these toxic schemes.

Companies such as freemypension.co.uk and Pension Release NI promise to unlock cash from your pension while you are under 55 — even though this cannot be done lawfully without incurring a tax charge of up to 55% of the fund.

The companies collect eye-watering charges and the remaining savings are invested in obscure vehicles, usually held overseas. This money may never be recoverable.

Sean Browes of Dalriada Trustees, the independent pension trustees firm, said: “They call it pensions liberation. It isn’t liberation. It is pensions destruction. Some people have lost all their pension and face a tax charge on

Yeah you have to buy the paper or subscribe online for the full story. Not that interesting really but might help raise some awareness for others.

 

[Him Her]

Here's the full article

If the link doesn't appear go to Gallery, Member Photos, HimHer's Images, Sunday Times

 

[Rumpelstiltskin.]

Is it lol..........

 

[Him Her]

Is it lol..........

It is now

 

[Him Her]

More info - HMRC crackdown on UK-based pension liberation scams
@manic01 - any idea what I did wrong? I clicked 'Insert Image' and used the URL option - I should have left the local reference box ticked maybe?

 

[Rat]

:Yikes: just seen you on BBC The One Show !! @earwig999

 

[Him Her]

@Rat - I know it's not really a digital/techie thing but it could be worth looking at a financial thread/sticky/whatever. Some sort of collaborative thing as I know there's a few members keep up to speed with this sort of thing, not just me.

I'd be happy to contribute. I had to learn about this stuff to avoid getting shafted - could be a valuable member service IMHO.

 

[shaun127]

How about a scams section listing all the latest financial and OTHERS incorporated in the above suggested by HH?

 

[earwig999]

And not long after it was aired got a Direct Message from one of the Directors associated with the new company doing the same thing stating "crier" followed by another stating "oh dear"