Your retirement savings are extremely valuable – make sure you keep them safe from scammers.

How to avoid scams


Pension scams are on the rise, with criminals using convincing language and slick sales tactics to get access to victim’s retirement savings. The good news is that you can protect yourself from scams and keep your money safe.

Tips for keeping your money safe

  • Don’t respond to cold calls

    It’s illegal for anyone to call, email, or write to you, out-of-the blue and ask you about your pension. Reputable financial advisers and investment managers don’t drum up business by making cold calls.

  • Be particularly suspicious of anyone who:

    • offers you a ‘free pension review’
    • says they can help you access your pension – especially if it’s before you’re 55
    • claims they can get you higher returns on your retirement savings
    • pressures you to invest quickly to avoid losing out on a one-off opportunity
    • talks about legal loopholes or tax incentives, like taking more than 25% as tax-free cash.

    If in doubt, put the phone down, delete the email, or put the leaflet in the bin.

  • Don’t assume scammers are easy to spot

    They are con-artists and often use professionally produced brochures and websites, sometimes copying the colours and fonts used by well-known companies. If in doubt, check with the Financial Conduct Authority (FCA); they hold a register of authorised financial services providers.