We lost everything... I’m devastated
JENNY and Mark Ringstead lost £65,500 and ended up bankrupt after crooks talked them into transferring both their pension pots into a bogus investment.
Jenny, 48, a care support worker from Cardiff, said: “I had £13,500 pension savings and Mark had £52,000 in his RAF pension. We were promised a cash incentive and yearly bonus as our cash would be invested into shares. We were told our pension pots would be safe and keep growing in the background.
“We were struggling financially and I thought this could be our way out. We lost everything. And we are still waiting to find out if we owe the taxman a huge bill as we have since found out that you have to pay 55% tax on pension withdrawals before 55.
“I am devastated. I feel silly I didn’t get advice. We are going to keep struggling financially the rest of our lives.”