Pension guide
How to recognise a pension scam
Pension scams can look professional and convincing. The safest response to unexpected pension contact, pressure to act quickly or promises that sound unusually attractive is to stop and verify independently before moving any money.
Warning signs
Scammers often create urgency, certainty or exclusivity.
Contact out of the blue
Unexpected pension calls, texts, emails, online messages or doorstep approaches should put you on guard.
Pressure to move quickly
Time-limited offers, couriers waiting for signatures or repeated pressure to transfer are recognised scam indicators.
Guaranteed returns
Promises of guaranteed or unusually high investment returns should be treated with extreme caution.
Unusual investments
Overseas property, forestry, renewable-energy schemes and other unusual or concentrated investments can feature in pension scams.
Scammers can impersonate genuine businesses, copy branding and provide convincing paperwork. Verify the firm independently rather than using only the contact details supplied to you.
Verify independently
Check who you are actually dealing with.
If someone is offering pension or investment advice, check the FCA Firm Checker/Register and confirm that the firm is authorised for the relevant activity. Use independently obtained contact details where possible.
Being connected to a genuine pension scheme does not by itself make a proposed investment safe. MoneyHelper warns that high-risk or unregulated investments can still be promoted through apparently legitimate arrangements.
Early access
Be particularly wary of promises to unlock pension money early.
Most people cannot normally access private pension benefits before age 55 under current rules, except in limited circumstances such as certain ill-health cases or where a protected pension age applies. The normal minimum pension age is due to rise to 57 from 6 April 2028.
Someone offering to release pension money outside the normal rules may expose you to the loss of your savings as well as significant tax consequences.
Transfer safeguards
Your pension provider may stop or delay a suspicious transfer.
Before transferring pension money, the existing scheme must carry out scam-risk checks. Serious concerns can result in a transfer being stopped. Other warning signs can result in the transfer being delayed until appropriate Pension Safeguarding Guidance has been taken.
These checks are designed to protect pension savers, so a provider asking questions about the receiving scheme, adviser or circumstances of a transfer should not automatically be viewed as an unnecessary obstacle.
If something feels wrong
Stop before you transfer.
Do not send money or sign under pressure
Pause the transaction and do not give the caller further personal or pension information.
Contact your pension provider
If a transfer has been requested but has not completed, contact the provider immediately.
Check the firm independently
Use the FCA's official checking tools rather than links or telephone numbers supplied by the person approaching you.
Report suspected fraud
Suspected pension scams can be reported to the FCA. If you have lost money, also report the crime through the UK's fraud-reporting service.
If money has already moved
Act quickly and do not pay anyone promising guaranteed recovery.
Contact your pension provider and relevant financial institutions immediately, report the matter to the FCA and report the fraud. Keep copies of emails, messages, documents, bank details and other evidence.
Victims can also be targeted by recovery scams, where someone asks for an upfront payment and claims they can recover lost pension money. Treat unexpected recovery offers with the same caution.
Before making a pension decision
Unsure about a pension approach or proposed transfer?
Do not act because somebody is pressuring you. Verify who you are dealing with and, where appropriate, obtain regulated advice before making an irreversible pension decision.
Contact Patrick Wayne WealthThis guide is for general information only and is not personal financial or legal advice. Scam methods and pension rules change. Content checked against current FCA, MoneyHelper, The Pensions Regulator and UK Government information on 15 September 2026.