Pension scams – could you spot one?
31 March 2020
It is more important than ever to be aware of scammers who want to take money away from your pension. They have sophisticated methods in order to trick you, but would you be able to spot a pension scam?
- What is a pension scam?
A pension scam is where someone tries to con you out of your pension. Often, scams can be disguised as something where you are able to take your money before age 55 or an investment opportunity you have never spoken to them about before.
If somebody calls you out of the blue about your pension – this is illegal. You should end the call immediately and tell Action Fraud on 0300 123 2040 or use their online reporting tool at www.actionfraud.police.uk/reporting-fraud-and-cyber-crime
- How do I spot a scam?
The Financial Conduct Authority have created a pension scam quiz to see what you would do in each situation. Give it a go at www.fca.org.uk/scamsmart/pensions-scam-quiz
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