Unfortunately, pension scams continue to rise, with scammers trying a number of ways to get hold of your pension savings. Last year, victims of pension fraud lost on average £91,000 of their life savings, and much of this fraud was committed by scammers making unsolicited phone calls to people and offering phony investment opportunities. Also, be mindful of unsolicited emails – they may look legitimate but just double check them or phone the provider before you give any personal details away or if you are unsure.

The Government recently made cold calling relating to pensions illegal. The ban sends a very clear message: if anyone calls you about your pension out of the blue, it’s an attempt to steal your savings. 
Top tips to protect yourself against scams:

• Do not fall for ‘guaranteed’ investment returns or professional looking websites or brochures
• Do not be rushed into a decision
• Ask The Pensions Advisory Service for help
• Contact your provider or call Action Fraud on 0300 123 2040 if you think you have been scammed
• Appoint an independent financial adviser (IFA) who is authorised and regulated by the Financial Conduct Authority (FCA). You can visit the FCA register here.
  

For more information on scams, and on how to avoid them, visit the FCA’s ScamSmart page here.