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Pension Scams – How to spot one

A ‘Pension Scam’ is when someone tries to fraudulently access your pension savings. Victims of these Scams can potentially lose their pension savings or find out later that they are facing an unexpected tax bill … or both!

Typically, a Pension Scam begins when somebody contacts you unexpectedly about either:

  • Ways that you can invest your pension money;
  • An investment or other business opportunity that you’ve not spoken to them about previously; or they offer you
  • An investment described as ‘unique’, ‘overseas’, ‘environmentally friendly’, ‘ethical’ or in a ‘new’ industry;
  • An opportunity to access your pension savings before the age of 55; or
  • An unexpected offer of a pension contribution tax rebate.

Scammers are using sophisticated methods to try and fraudulently get at your pension savings. They are making unsolicited calls and sending emails that direct people to copycat websites (one that looks like a legitimate website). In several recent incidents, scammers have reportedly even been known to pretend that they represent recognised governing bodies such as the Pensions Regulator.

If you have any doubts do not proceed with the transfer! You can report what you might think is a Scam to Action Fraud on 0300 123 2040 or go to

You can find out more about Pension Scams, including what to do if you think you’re being targeted, at