How can I avoid pension scams?

Sadly, since the pension freedom reforms of 2015, many people have lost their retirement savings to pension scams. They’re a real threat that could swindle you out of the future you’ve saved lifelong for.

Often the scammers involved seem highly plausible, so they are often highly effective in persuading people to part with some or all of their retirement savings.

How to spot a scam?

Always be on your guard. Question everything. Fraudsters are highly sophisticated and convincing. They contact you by phone, email, texts, and even door-to-door. Glossy brochures and impressive websites also add to the scammers’ credibility.

The Pensions Regulator has produced a detailed leaflet outlining clues to look out for and what to do if you think you’re being scammed: