A survey carried out by Citizens Advice revealed just 16% of those accessing their pension pot under new freedoms had budgeted for their potential future care. Everyone accessing their pension since freedoms were introduced should consider the financial impact that may have on their future by undertaking due diligence and seeking professional advice. 

Whilst 16% in this survey have budgeted for care costs have they ensured their pension release has been legitimate and not part of an elaborate scam? 

Citizens Advice have previously advised that it had calculated around 10.9million consumers had received unsolicited contact about their pension in the last year. The scale of this contact must continue to be countered by scam awareness such as the Government initiative Project Bloom.

We are also delivering a strong message of awareness and help on Grant Thornton UK LLP's website.

http://www.grantthornton.co.uk/en/insights/pension-liberation-fraud/