You've worked hard to build up your pension savings for retirement, don't let scammers take it away from you.
Like anything valuable, your pension becomes a target of
illegal activity and scams from people promising high returns on ‘too good to
be true’ investments, or access to your savings early.
Take a look at the tips below to help you avoid scams.
Pension scammers will usually approach you by phone call, text message, email or in person and promise you one of the following -
Pension Wise offers impartial and free information and guidance on your pension options. It will never contact you out of the blue to offer you a pension review and it has only one website: pensionwise.gov.uk
Make sure you follow these simple rules:
1. Reject any unsolicited calls, emails, text messages or visitors to your door. Legitimate companies will not cold call or contact you out of the blue.
2. Check the FCA register of regulated companies, or the FCA warning list.
3. If you're thinking about getting help with your pension, seek independent financial advice from an FCA regulated firm.
The Pensions Advisory Service (TPAS) also has an online tool to help you identify a pension scam. You can access this tool by visiting their website www.pensionsadvisoryservice.org.uk/my-pension and clicking on "Identify a scam: Protect your pension.
The Pensions Regulator also has lots of useful information to help you avoid being caught out.
If you’ve already signed something you’re now unsure about,
contact your pension provider straight away. They might be able to stop a
transfer that hasn’t taken place yet.
If you think you’ve been targeted by an investment scam,
please report it to the FCA using their reporting form. They may be able to stop them from operating and scamming others like you.