Pension Liberation Schemes

Part of Oral Answers to Questions — Work and Pensions – in the House of Commons at 2:30 pm on 11th March 2013.

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Photo of Steve Webb Steve Webb The Minister of State, Department for Work and Pensions 2:30 pm, 11th March 2013

My hon. Friend is right. We are warning people to be extremely wary. In general, they should not get their money out before they reach the age of 55, except in the event of, for instance, terminal illness. Trustees need to be wary, and participants need to be wary. Those who spot fraud should report it, and we will continue to crack down on it.