🚨 Could You Spot a Pension Scam? 🚨

🚨 Could You Spot a Pension Scam? 🚨

Pension scams are on the increase and the financial losses can be life-changing.

Criminals are using increasingly sophisticated tactics, including fake websites, phishing emails, AI-generated content, deepfakes and social engineering, to target your hard-earned retirement savings. Whilst many people feel confident that they can spot a scam, key warning signs are still being missed.

⚠️ Five Critical Red Flags

1️⃣ Unsolicited Contact

Cold calling about pensions has been banned since 2019. Any unexpected call, email, text message, social media contact or offer of a "free pension review" should raise immediate suspicion.

2️⃣ Promises of Early Access

The earliest legal age to access most private pension funds is 55 (rising to 57 in 2028). Anyone offering earlier access is likely to be a scammer and could leave you facing significant tax penalties from HMRC.

3️⃣ Guaranteed High Returns

If an investment opportunity sounds too good to be true, it probably is. No legitimate investment can guarantee exceptionally high returns without risk.

4️⃣ Professional-Looking Marketing

A polished website, social media advertising, online reviews or convincing documentation do not guarantee legitimacy. Criminals can create very convincing fake businesses.

5️⃣ Pressure and Artificial Deadlines

Scammers want you to act quickly before you have time to think or seek advice. Never be rushed into making financial decisions. REMEMBER - STOP • THINK • CHECK

🔒 Cyber Security Advice

Many pension scams start online. Help protect yourself by:

✅ Using strong, unique passwords for email, banking, and pension accounts.

✅ Turning on Two-Factor Authentication (2FA) wherever available.

✅ Never clicking links or opening attachments from unexpected emails, texts, or messages.

✅ Never share personal, financial or sensitive information in response to an unexpected / unsolicited message. 

✅ Checking website addresses carefully, ensuring they are genuine and correct, before entering personal or financial information.

✅ Keeping phones, tablets and computers updated with the latest security updates.

✅ Being cautious of social media adverts promoting investment opportunities, pension reviews, or wealth-building schemes.

✅ Contacting organisations using trusted contact details you have sourced independently, not details supplied in a message.

✔️ How to Stay Safe

• Check the FCA Register to verify a firm's details and ensure contact information matches the official register.

• Contact your pension provider directly using details you thoroughly trust.

• Seek guidance from Pension Wise or a regulated financial adviser you thoroughly trust, before making important financial decisions..

If You Receive a Suspicious Message

📧 Forward suspicious emails to report@phishing.gov.uk and then delete them.

📱 Forward suspicious text messages free of charge to 7726 (spells "SPAM" on your keypad) and then delete them.

If you are the victim of Fraud or Cybercrime

🌐 Report online here: UK's Home for Reporting Cyber Crime & Fraud - Report Fraud

📞 Or call: 0300 123 2040

📞 Report any suspicious financial contacts to the FCA on 0800 111 6768. 

📞 To quickly contact your bank dial 159

REMEMBER - STOP • THINK • CHECK

If something doesn't feel right, take a step back, seek independent advice, and verify before you act.

📢 Help Protect Others

Please share this message with family, friends, neighbours, and colleagues. A quick conversation today could prevent someone losing their life savings tomorrow.