Case Study
About
Stay safe: how to spot and avoid pension scams
Pension scams are becoming increasingly sophisticated, targeting savers of all ages and backgrounds. This guide will help you understand the warning signs, take action to protect your savings, and know what to do if you’re unsure. With the right information, you can make secure choices and avoid falling victim to fraud.
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Thinking of taking you pension?
Spot the warning signs and protect your pension
Scammers often promise early access to your pension, high-return investments, or exclusive financial opportunities. These offers can appear convincing and professional – but they’re designed to pressure you into making quick decisions and handing over personal or financial information.
Common red flags include:
Unsolicited calls, emails, or texts offering pension advice
Promises of guaranteed or unusually high returns
Pressure to act fast or secrecy about the offer
Requests for personal details or transfer of pension funds
How to protect yourself:
Pause and check: Never rush into a decision. Take your time and always verify the person or company you’re speaking with.
Use trusted resources: Confirm financial advisers are FCA-authorised using the Financial Services Register.
Report concerns: If something feels off, contact Action Fraud (in England, Wales and Northern Ireland) or Police Scotland (in Scotland).
Seek impartial guidance: Services like MoneyHelper, Pension Wise, or The Money and Pensions Service offer free, unbiased support.
Being cautious doesn’t mean being untrusting – it means staying in control of your retirement future.
things to know
Frequently Asked Questions
FAQs
If you have any other questions not answered below, please don't hesitate to contact us.
What is a defined benefit pension scheme?
When can I take my pension?
Can I take my pension as a lump sum?
How can I protect myself from pension scams?
Can I transfer my pension to another scheme?
What happens to my pension if I die before or after retirement?
Who can I contact if I have questions about my pension?
I’ve changed my marital status or address, what do I need to do?
Can I tell the Trustees I want my partner or other dependant or dependants to receive any available lump sum or pension when I die?
What happens to the AVCs I paid?
Why don’t I receive annual pension statements from my defined benefit pension scheme since I left the company?
What is a Guaranteed Minimum Pension?
I am a pensioner in one of the schemes HPW administers. When will I receive my P60?
I am a pensioner in one of the schemes HPW administers. Do I get a payslip every month?
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