Don’t let a scammer enjoy your retirement

Scammers are targeting pension pots of all sizes – help to make sure you know how to spot the signs

Pension scams can be hard to spot. Scammers can be articulate with credible websites, testimonials and materials that are hard to distinguish from the real thing.

Their impact can be devastating. Last year, victims of pension scams lost on average

£91,000 each.   

The FCA and TPR are urging trustees and pension providers to get to know their responsibilities and take steps to help protect savers from losing their pension savings to scammers. 

The regulators recommend four simple steps to protect your pension.

  1. Reject unexpected pension offers whether made online, on social media or over the phone.
  2. Check who you’re dealing with before changing your pension arrangements. Check the ScamSmart website or call 0800 111 6768 to see if the firm you are dealing with is authorised by the FCA to give advice on pension transfers.
  3. Don’t be rushed or pressured into making any decision about your pension.
  4. Consider getting impartial information and advice – in some cases it may be a requirement to do so.

Be ScamSmart with your pension. 

For more information on pension scams, visit

https://www.thepensionsregulator.gov.uk/pension-scams