Our pledge regarding pension scams
We’ve signed The Pension Regulator’s (TPR) Code of Good Practice to help you keep your pension safe. As part of this pledge, we’ll keep you updated about scams and their warning signs. We’ll also regularly ask you to visit the Financial Conduct Authority’s (FCA) ScamSmart pages to get the latest information about how to protect yourself and what to do if you think you’ve been scammed.
If you’re considering transferring your benefits into another arrangement, we’ll ask you to think about it carefully, especially if you have any benefits in a Defined Benefit (DB) scheme. Read the FCA’s advice about what transferring out would mean for your DB benefits.
We’ll always encourage you to get regulated financial advice before you transfer your benefits. Find an adviser near you at Unbiased.
If you’re considering transferring any of your retirement savings, make sure you know how to spot the signs of a potential scam. Scammers might:
Contact you unexpectedly
Pension cold calling has been illegal since January 2019, so if anyone calls you out of the blue about your pension, hang up. Ignore any unsolicited emails or text messages.
Promise high investment returns or new, innovative kinds of investments
If it sounds too good to be true, it probably is.
Pressure you to sign paperwork
Always take your time to think about your options and ask questions if you are unsure.
Claim they can offer you access to your savings before you’re 55
There are no such legal loopholes, so any offer like this is highly likely to be a scam.
On this page you can:
Read 'Don’t let a scammer enjoy your retirement' – TPR’s guide to avoiding scams
Find more information about building your financial wellbeing at the Money and Pensions Service (MaPS)
Read advice from TPR, FCA and MaPS on the extra steps you can take to keep your pension safe