Be aware of pension scamsPension scams are on the increase in the UK. The tactics used by pension scammers to encourage people to transfer their pension savings to them is constantly changing.
Some of the tactics used by pension scammers include phone calls or texts offering free pension reviews, health checks and promises of better returns on their savings, pension loans, upfront cash or other promotions to tempt you. Most of these are bogus – you could end up paying 55% tax, be transferred into high risk investments, and risk losing most, or all, of your pension fund. If you are concerned about any offer being made to you, or are being pressured to make a quick decision, please contact myMNOPFpension before signing any papers.
Never be rushed into making a decision. Arm yourself with the facts and stop a lifetime’s savings being lost.
Find out more at www.pensionwise.gov.uk/scams or contact Action Fraud on 0300 123 2040.