Pension scams are on the rise. There are different types of pension scams but they can all lead to you losing a lifetime’s worth of savings.
Since April 2015 you have more choices about how you can access your pension pot than in the past. Be on high alert. Scammers know this and will try to lure you with promises of upfront cash and one-off ‘deals’ with guaranteed high returns.
Check out these free tools and resources around pension scams:
- This tool tries to predict the likelihood of you being exposed to a pension scam: https://helpandadvice.co.uk/pension-scam-predictor-tool/
- This tool allows you to check the validity of a pension/investment opportunity you’ve been offered: https://www.fca.org.uk/scamsmart
- This article lays out several tips on how to spot a pension scam: https://www.moneyadviceservice.org.uk/en/articles/how-to-spot-a-pension-scam