Considering your pension? Watch out for these scams

Action Fraud, the National Fraud & Cyber Crime Reporting Centre, has launched a campaign to raise awareness of the ways in which criminals are targeting people through pension scams.

The organisation has received 45% more pension scam reports in the first three months of 2021 than they received over the same period last year.

They are therefore encouraging everyone to #ProtectYourPension.

Action Fraud recommends the following:

  • Reject unexpected pension opportunities, such as free pension reviews or investment opportunities involving your pension, whether made via email, social media, text, or over the phone.

  • Research who you’re dealing with before changing your pension arrangements – check the FCA Register, or call the FCA on 0800 111 6768 to see if the firm is authorised by the FCA.

  • Don’t be rushed or pressured into making any decision about your pension – consider getting impartial information and advice from a financial advisor authorised by the FCA to help you make the best decision for your own personal circumstances.

  • Be suspicious if you are contacted out of the blue about an investment opportunity - seek advice from trusted friends, family members or an independent professional advice service before making a significant financial decision, especially when it involves your pension pot. Even genuine investment schemes can be high risk.

  • Be ScamSmart and visit the ScamSmart website to learn how to protect yourself from pensions scams.

You can find their guidance on their website.

Action Fraud also notes that if you receive a message which you suspect is a scam, you should report it at or by calling 0300 123 2040.

Look out for our #ProtectYourPension posts on our NEBRC social media profiles where we’ll be sharing quick and easy tips for how to keep your life savings safe from criminals.