HELP to prevent rogue agents making a profit from changes to pension rules is being offered by landlords in South Tyneside.
A reform of pensions announced by the Government last year, which changes the way many people fund their retirement, comes into effect from April this year.
People aged over 60 who have not touched their pension pot, and whose total pension savings are no more than £30,000, will be able to withdraw all of the money.
It is predicted that many pensioners will invest in buy-to-let properties as a viable investment for their old age.
However, Colin Campbell, of South Tyneside Landlord Association, is worried that could lead to some being at the risk from scam companies offering bad advice.
That’s why the association is about to offer a series of information seminars in the borough – free of charge.
Mr Campbell said: “There will be a surge in buy-to-let as people want to look after their own money and their own futures.
“Scam companies and rogue agents have popped up to ‘help’ pensioners invest. The unwary may lose their pension funds.
“South Tyneside Landlord Association has members with decades of experience in the buy-to-let market, from guest houses, houses in multiple occupancy to houses and flats.
“We are going to offer ‘buy-to-let’ information seminars later this month, with dates to be announced, and they will be held monthly and will be informal and free.”
To find out more, contact Mr Campbell at Campbellcolin9@aol.com or drop a note into the old Lloyds Bank at 87 Laygate. South Shields.