‘Pensions liberation’ company on brink of insolvency

A company which offers to unlock pensions for a fee – is on the brink of a formal insolvency arrangement.

Freedom Capital Partners Limited is poised to enter a Company Voluntary Liquidation (CVL) on 11 June, subject to a creditors meeting, Insolvency News can reveal.

Freedom Capital Partners has been the subject of significant press interest following allegations of high transfer fees for permitting pension scheme holders early access to their fund.

Taking money from a pension before age of 55 remains subject to a tax charge of 55% as it is deemed an ‘unauthorised payment’.

Today, a spokesman for insolvency firm CMB Partnership confirmed it is preparing documents with a view to a CVLbeing passed at the meeting of creditors at 23 Ely Place, London on 11 June.

The news comes just days after the City of London police announced that it had arrested three people and seized computers and documents from a call centre in relation to pension liberation activity. Police Scotland and SOCA also confirmed two arrests in Ayr and Glasgow.

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Maidment Judd

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