News updates

Pension scams have led to huge losses  

According to the Pensions Management Institute, a staggering £26.4 million has been lost to pension scams in recent years, with an average loss of £16,500 for each person scammed.  

These figures are alarming and you may be more vulnerable to a scam than you think, but you can take steps to protect yourself. 

Here are some tips on how you can do that.   

Never share your password or login information with anyone 

Even if you’re speaking to a financial advisor, or another professional, no one should ask you for your password or login information. 

Reject out-of-the-blue calls, emails and contact 

Reject any unexpected calls, emails, texts or social media approaches about pensions. Cold-calling has been illegal since January 2019.  

Do some research 

Callers may claim they’re from well-known organisations to trick you into giving them information.  

Take your time if there’s a decision to be made 

Scammers can make you feel like you’re going to miss out on a great deal, that’s only available for a short period of time.  

Check the Financial Conduct Authority’s register of regulated companies at register.fca.org.uk/s/ 

If a financial services company isn’t on the register, it’s probably best to avoid it. 

Report fraud at any time on the Action Fraud website at actionfraud.police.uk.