Pension bosses handed 34-year ban for £12m pension liberation 'house of cards'

209 people offered loans

clock • 2 min read

Three directors who liberated just under £12m worth of pension savings have been disqualified for a total of 34 years for misleading investors over a period of 30 months.

Kevin Kirkwood was handed a 10-year ban, while Gary Quillan and Gregory Garrett were both given 12-year disqualification orders on 18 September at the High Court in Manchester. The court heard that the two firms involved - Liverpool-based KJK Investments and Windermere-based G Loans - operated a ‘pension liberation scheme' allowing savers to access pension benefits before the age of 55. Some 209 individuals were offered loans by G Loans on the condition that they simultaneously invested their existing pension in KJK Investments shares - the value of that investment being typically twi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Retirement

Shifting pension rules 'eroding trust' and 'hindering' retirement confidence

Shifting pension rules 'eroding trust' and 'hindering' retirement confidence

Speculation on rules hitting confidence across every age group

Sahar Nazir
clock 17 November 2025 • 2 min read
Retirement confidence dips amid Budget speculation

Retirement confidence dips amid Budget speculation

Confidence is highest among those receiving professional financial advice

Jenna Brown
clock 12 November 2025 • 2 min read
The Great Wealth Transfer: women, wealth and what comes next

The Great Wealth Transfer: women, wealth and what comes next

Sponsored content from WIFA 2025 headline sponsor LV=

LV=
clock 03 November 2025 • 6 min read