Pension liberation websites frozen in clampdown

Eighteen websites have been suspended and arrests made during a campaign, being revamped on Thursday, against pensions liberation schemes.

The schemes encourage people to access their pension savings before the age of 55. But the campaign, run by the Pensions Regulator, highlights the high tax charges and fees that can erode the pension pot of anyone who signs up, the BBC reports. It said money tied up in these schemes amounted to at least £495m. This figure has grown as operators use text messages, cold calls, or website promotions to encourage people to access their "frozen" pension. > Read: Ombudsman investigating 84 pension liberation complaints < The campaign was first launched in February 2013, and the Pen...