Scam Awareness
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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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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How to spot a scammer
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.
Where can I find more information?
Here are some free, impartial resources to help you understand your pension options:
Money and Pensions Service (MAPS)
Free and impartial guidance to people with workplace and personal pensions
Provides information on pensions regulations and helps resolve disputes
MoneyHelper
Provides free and impartial money and pension guidance backed by the government
Tools and calculators to help you understand your pension options and retirement planning
Pension Wise
Free and impartial government service that helps individuals aged 50 and over understand their pension options
Offers appointments and guidance on how to access pension savings.
Frequently Asked Questions
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