Pension liberation usually refers to withdrawing pension savings before the minimum pension age (currently 55), outside of approved circumstances. Some schemes promote this as early access or offer cash incentives to move your pension. These can lead to unexpected tax charges and, in some cases, loss of funds through scams.
To help prevent this, pension providers have a responsibility to carry out checks before approving a transfer request, particularly if they don’t recognise the receiving provider or if certain warning signs are present.
A pension liberation questionnaire is a set of questions your current provider may send you when you request a transfer. It helps them understand a little more about your situation and ensures that the transfer is in line with their security checks.
Questions may include:
Have you been offered early access to your pension?
Have you been promised a cash incentive or loan?
Were you contacted unexpectedly by someone suggesting the transfer?
Do you understand the purpose of the transfer and where your pension is being invested?
These questions are designed to confirm that you’re making an informed decision and that the transfer does not raise concerns about pension liberation or scam activity.
Whether a PLQ is required can vary depending on the provider you are transferring from. Some providers carry out checks based on their internal policies, the details of the transfer, or whether they are familiar with the receiving provider. In some cases, your provider may already hold enough information about the transfer destination and may choose not to issue a PLQ. In others, a short form may be required before your transfer can continue.
At Pension App, we work closely with a wide range of pension schemes and always aim to ensure our transfer processes meet industry expectations. However, it’s ultimately up to the transferring provider to decide what checks are needed. If you are asked to complete a PLQ, our Transfer Specialists are on hand to explain what’s required and help you through the process.
PLQs are not unusual, and being asked to fill one out is no reflection on you or the platform you are transferring to. It’s simply one of many ways pension schemes work to keep savings safe. At Pension App, we’re here to make pension management straightforward. From tracing old pensions to managing your fund online, our team is focused on transparency, security and user support, every step of the way.
With pensions, your capital is at risk.