A firm which claims to carry out free pension assessments on behalf of the Government has been reported to the FCA.
Philip J Milton & Company managing director Philip Milton reported Pension Assessment Services to the regulator after receiving a cold call from the firm.
On its website, pensionassessment.org.uk, the company claims to offer “free pension assessments and reviews”. It says it has been “set up to assist UK pension holders with a free pension assessment”.
In small print at the bottom of the website it says: “This service is not affiliated with the Department of Work and Pensions [sic] or any government body. Pension Assessment Services is not authorised to give any advice.”
Milton says: “The caller told me the Government wanted them to assess everyone’s pensions and provide annual statements, as since the pension reforms people are being overcharged, or are in under-performing pensions.
“Their website is also designed to mimic a Government site in its design and domain name. The regulator must do something about firms like this.”
In response to Milton, the FCA says: “Your correspondence has been forwarded to the relevant team within the FCA. They will consider this matter further and decide if any regulatory action can or should be taken with the firm.”
Pension Assessment Services did not respond to a request for comment.