Title

How to Spot and Avoid a Pension Scam

Date

25 May 2017

Excerpt

Dont lose your pension fund to a scam there are easy signs to spot crooks trying to get your money.

Content

If you transfer your pension to a new provider the risk of fraud is high!

We recommend taking advice from a regulated financial adviser before undertaking a transfer, but there are also some simple questions you can ask yourself to help identify a scam.

Question

Did the receiving scheme or any connected party contact you first? (Cold calling, by telephone, text email, post or door to door)

Will you be receiving any payments bonuses or loans from the receivng scheme administrators as a result of transferring your benefits?

Have you been told you can access any part of your pension before age 55, other than on the grounds of ill health?

Have you been promised a specific or guaranteed rate of return on your pension under the receiving scheme?

Have you been informed of an investment opportunity (not stocks and shares) in another country outside of the UK?

Have you made reasonable checks on the receiving scheme, is it too good to be true?

 If you are concerned about a pension transfer you are considering please call us, we will be happy to talk you through the proposal, free of charge.