Pension Scams — How to Spot and Avoid Them

Pension Scams — How to Spot and Avoid Them

Pension scams are becoming more sophisticated — with criminals targeting people to access their retirement savings. Understanding how scams work is the first step to protecting yourself.

🟩 What Is a Pension Scam?

A pension scam is where fraudsters trick people into transferring or withdrawing pension money into unsuitable or fraudulent schemes — often promising high returns or "too good to be true" offers.

🟩 Common Warning Signs

  • Unsolicited contact (phone calls, texts, emails or social media approaches)

  • Free pension reviews or limited-time offers

  • Claims of guaranteed high returns or exclusive opportunities

  • Pressure to act quickly or secrecy around the deal

  • Overseas investments or unregulated schemes

🟩 The Cost of Falling Victim

  • Loss of your pension savings

  • Huge tax penalties for unauthorised withdrawals

  • Emotional distress and long-term financial insecurity

🟩 How to Stay Safe

  • Never respond to cold calls about pensions.

  • Check any adviser or firm is FCA-authorised.

  • Be wary of any offer that seems too good to be true.

  • Take independent regulated financial advice before transferring any pension.

🟩 If You’re Unsure — Stop and Check

  • You can check firms on the FCA register.

  • The government-backed site MoneyHelper offers scam guidance.

  • Speak to a trusted, regulated financial adviser.

✅ Summary Message:

Pension scams can be devastating, but knowledge is the best defence. If in doubt, stop — and get advice before making any decisions.

Pensions can seem complicated, but you don’t have to navigate them alone. I’m here to help you understand your options, build a clear retirement plan, and make informed decisions that fit your personal goals.

Talk to an Adviser Today