Fraud & Scams

Protecting your future.

Your pension is your future – it’s important that you keep it safe. In recent years, the Financial Conduct Authority (FCA) reported that, pension scams caused an average loss of around £34,000 per person affected, which represents a large portion of someone’s life savings.

Spotting the signs of a scam

Learning how to spot the signs can help protect you and your pension. You should be wary of:

Unexpected offers – if someone you don’t know contacts you about your pension with an offer that sounds too good to be true, be cautious.
Pressure tactics – scammers may push you to act quickly; take your time to check things through.
Unsolicited emails or calls – the Trustee, Pensions team or administrator will never ask you to share personal or financial details over the phone or by email.

Some of the most common scams in recent years include offering early pension access or a pension review. You can read more about how these scams operate by visiting the FCA’s Pension scams page.

You should always check that anyone offering financial advice is authorised by the FCA. Call 0800 111 6768 or visit www.fca.org.uk/scamsmart to confirm whether a firm can give pension advice.

Protecting yourself online

Protecting yourself online is just as important as spotting scams. There are some simple steps you can take to keep your information secure:

Use a strong password
Enable two-step verification
Keep your software and antivirus programmes up to date
Avoid using public Wi-Fi for financial transactions

Staying alert online helps keep your pension and personal information safe.

To learn more about protecting yourself from fraud, visit www.stopthinkfraud.campaign.gov.uk

What do I do if I suspect fraud?

If you think you may have been contacted by a scammer – or something just doesn’t seem right – please get in touch with us straight away.

Here’s what to do:

1.

Don’t agree to anything or sign any documents
2.

Contact your scheme administrator or trustees immediately. We can help you check whether the approach is genuine
3.
Report it:
- ReportFraud (the UK’s national fraud reporting centre) or call 0300 123 2040
- MoneyHelper or call 0800 011 3797 for free and confidential support
4.

If you’ve shared personal or financial information, contact your bank right away

Even if you’re unsure, it’s always better to report your concerns. It’s better to be cautious, and your trustees are here to help protect your pension.