US Veterans and Their Families Warned About “Free” Pension Advice

Always take your time to analyze an offer before accepting it

The US Federal Trade Commission (FTC) is warning veterans and their families to avoid offers in which they’re promised “free” aid with paperwork for their pension claims.

“Unscrupulous lawyers, financial planners and insurance agents advise veterans over 65 to transfer their assets to a trust, or to invest in insurance products, so they can qualify for Aid and Attendance benefits,” the FTC warns.

“By following their advice, you could lose your eligibility for Medicaid services and the use of your money for a long time, plus get billed for fees that range from hundreds to thousands of dollars.”

The shady offers are usually advertised via websites or ads. The scam starts with a free seminar held at senior centers or other places.

The individuals offering their services usually say they’re veterans themselves to make their services more appealing.

In order to avoid falling victim to such scams, the FTC advises veterans to analyze each offer before taking a decision. Those who think they can help the FTC in combating such practices, can file a complaint on the organization’s website or by calling 1-877-FTC-HELP (1-877-382-4357).

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