Pension scams
Be wary of offers of free pension reviews. Professional advice on pensions is not free – a free offer out of the blue from a company you have not dealt with before is probably a scam.
Scam offers often include:
- Free pension reviews
- Higher returns - guarantees they can get you better returns on your pension savings
- Help to release cash from your pension, even though you’re under 55 (an offer to release funds before age 55 is highly likely to be a scam).
- High pressure sales tactics - the scammers may try to pressure you with ‘time limited offers’ or even send a courier to your door to wait while you sign documents.
- Unusual investments - which tend to be unregulated and high risk, and may be difficult to sell if you need access to your money.
- Complicated structures where it isn’t clear where your money will end up.
- Long-term pension investments – which mean it could be several years before you realise something is wrong.
to verify the person(s) offering advice is authorised by the Financial Conduct Authority.
If you suspect a scam, report it
- - You can report an unauthorised firm or scam to by contacting the on 0800 111 6768 or
- - If you suspect a scam you should report it to Action Fraud on 0300 123 2040 or on their .
- If you've agreed to transfer your pension and now suspect a scam, contact your pension provider straight away. They may be able to stop a transfer that has not happened yet. If you are unsure of what to do:
- visit
- to talk to an independent pensions specialist, phone Pensions Helpline on 0800 011 3797.