Pension liberation—an introduction


Produced in partnership with Rebecca Bennett of Needle Partnership and Natasha Peacock of Needle Partnership
Practice notes

Pension liberation—an introduction


Produced in partnership with Rebecca Bennett of Needle Partnership and Natasha Peacock of Needle Partnership

Practice notes
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This Practice Note provides an introduction to pension liberation, what it is, why it happens, its structures and characteristics, and considerations for the various parties involved.

For further information on the legal considerations that arise in the context of pension liberation, see Practice Note: Pension liberation and pension scams—legal considerations.

For further information on schemes where pension liberation was suspected and where action was taken by the Pensions Regulator up to 2018, see Practice Note: Pension liberation—actions taken by the Pensions Regulator until 2018 [Archived].

For further information on complaints that have been determined by the Pensions Ombudsman in relation to transfers of pension funds connected to pension liberation or pension scams up to 2018, see Practice Note: Pension liberation—key Pensions Ombudsman decisions up to 2018 [Archived].

The rise of pension liberation

At its most basic, a pension is an arrangement by which an individual, or an employer, pays moneys into a fund that is invested and which aims to provide the individual with an income on retirement. Pensions

Rebecca Bennett
Rebecca Bennett

Needle Partnership

Rebecca Bennett joined the Needle Partnership in October 2013 and is currently a trainee in financial services.

Rebecca graduated from university with a Bachelor of Laws honours degree and is currently undertaking her Legal Practice Course at BPP Law School in Leeds. Before joining the Needle Partnership, Rebecca worked as a legal assistant for Minster Law Solicitors in their technical litigation department and has experience in litigation matters.

In her spare time Rebecca enjoys cooking, travelling and socialising with friends.

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Natasha Peacock
Natasha Peacock

Partner, Needle Partnership

Natasha has held positions in national law firm Beachcroft LLP as a financial services legal and regulatory consultant and more recently in specialist financial services firm Regulatory Legal Solicitors. She has also held directorships in a number of regulated businesses and worked in various in-house legal, technical and compliance roles in the life, pensions and investment sector.

An experienced and innovative legal and regulatory professional with a broad range of expertise, she is a dynamic project and change manager providing creative, pragmatic solutions to business problems.

Natasha provides advice to firms and individuals regulated by the FCA, PRA and those seeking to understand if they need to be regulated.

In her spare time, Natasha enjoys travel, theatre, arts and crafts and boxing.

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Pension Liberation definition
What does Pension Liberation mean?

instance where funds are taken out of a pension scheme by the member (usually on the promise of financial incentive by an ‘adviser’ or ‘introducer’), but ultimately used in a way which is not authorised by HMRC (thereby giving rise to tax penalties). Tax evasion and/or fraud may be involved.

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