Don’t let it happen to you.

It’s your money – never feel rushed or pressured to transfer your pension. Take the time to find out who you’re dealing with and seek impartial advice.

Remember, if something sounds too good to be true, it probably is!

Pension Scams can be broken down into four different types:

Liberation scams – offering you access to your pension before the age of 55
Investment scams – offering you high (unrealistic) returns, perhaps on overseas investments
Review scams – offering you a ‘free’ review of pension savings and investment returns
Advice scams – offering you free advice with the aim of obtaining information or authority to make transfers on your behalf

These are just some of the offers a scammer may make to you:

• offer you a free pension review
• promise you better returns on your pension savings
• offer to help you take out money from your pension before age 55
• put you under pressure to make a quick decision with ‘time-limited offers’
• try and entice you with unusual investments that are difficult to understand
• suggest arrangements made up of several different parties – some may be from overseas; and
• offer long-term investments where you may not notice something is wrong until years later

Consider using Money Helper, visit moneyhelper.org.uk which provides free independent and impartial information and guidance.

If you suspect a scam, report it.

You can report an unauthorised firm or scam to the FCA using the online reporting form or on 0800 111 6768,

If you suspect a scam, report it to Action Fraud on 0300 123 2040 or at actionfraud.police.uk.

Be ScamSmart with your pension. To find out more, visit fca.org.uk/scamsmart.