Protect Yourself from Pension Impersonation Fraud

The Pensions Regulator is warning pension scheme members about a rise in impersonation fraud. Scammers may pose as pension providers or scheme representatives in an attempt to gain access to pension accounts and personal information.

Fraudsters often gain access to email accounts to intercept communications between pension members and their pension providers. Once they have enough personal information, they may attempt to change bank account details or set up fraudulent pension accounts in the member’s name. This can result in money being transferred from legitimate accounts without the member realising.

How to Stay Safe

• Enable two-factor authentication on all pension-related accounts and online portals.
• Use strong, unique passwords for each account and update them regularly.
• Avoid clicking on suspicious links or opening attachments from unknown senders.
• Do not respond to unsolicited calls, texts, or emails requesting personal or financial information.

Research shows that people aged 50 to 69 are among the most commonly targeted by impersonation scams, accounting for over half of reported cases.

For further guidance on protecting yourself from fraud, visit: https://stopthinkfraud.campaign.gov.uk