Pension scams, where people are tricked by criminals into handing over their pension savings, continue to be on the rise. Everyone involved in pensions, including The Pensions Regulator (TPR) and the Financial Conduct Authority (FCA), are working hard to tackle pension scams.
The Trustee and Buck, the Fund Administrator, have a duty to look for signs of a pension scam when any transfer is requested. However, you are also encouraged to take some simple steps to protect yourself from pension scams. Keep an eye out for the updates being made on the Avoiding Pension Scams page.
Further information is available on the FCA’s website which includes some top tips on how you can protect yourself and what to do if you suspect a scam.
Always remember…if it sounds too good to be true, it probably is!
