Savers who’ve been scammed

If you will find down a pension saver happens to be scammed, encourage them to report it to your Financial Conduct Authority (FCA).

The Pensions Advisory provider (TPAS) supports people who wish to reconstruct their pension cost savings. To book a scheduled appointment, email virtual.

Approved monetary advisers

The FCA regulates firms and folks that offer monetary advice.

Retirement scammers often pose as economic advisers; have smart-looking brochures and web sites scam that is giving, pretending become official or government-backed.

Expert appearances don’t guarantee that a business could be trusted. Savers should seek the advice of the FCA to ensure a company is authorised before functioning on any retirement benefits advice they’re provided.

It’s important that savers remain tuned in to other caution indications of a scam. Share our template news tale (DOC, 209kb, 2 pages) with savers so that they understand how to spot them.

The FCA also regulates people who run self-invested personal retirement benefits (SIPPs) – individual and contract-based stakeholder retirement schemes. If you’re stressed that a part of the scheme might have been targeted by a scam, check if the getting pension provider is authorised by the FCA.

For those who have concerns of a firm that is noted on this register, contact firm.

The Financial Services Compensation Scheme (FSCS) safeguards consumers who get bad or negligent advice from a economic adviser that is authorised because of the FCA. The FSCS will pay as much as ?50,000 per claim.

Tax-registered retirement schemes

HMRC provides income tax amor linea relief directed at retirement cost cost savings in registered pension schemes. Pension frauds put this taxation relief at an increased risk.

All applications to join up a pension scheme undergo checks by HMRC, who monitor task through the full life of a registered pension scheme.

If HMRC does not think a new scheme is genuine – or does not think the scheme administrator is really a fit and proper individual to execute the part – the scheme won’t be registered.

In case a retirement scheme hasn’t complied having its income tax responsibilities, HMRC can impose sanctions. This will consist of de-registering the scheme, so that it does not reap the benefits of income tax advantages.

If your scheme administrator has performed homework checks on a transfer, yet still has issues, they are able to request confirmation associated with enrollment status regarding the getting scheme from HMRC by composing to: Pension Schemes Services, HMRC, FitzRoy home, Castle Meadow path, Nottingham, NG2 1BD.

Business advisers

You’re the line that is first of for the customers against retirement scams – they’ll aim to you for advice.

Scammers may be articulate and economically knowledgeable, which makes it tough to inform among them and advisers that are legitimate.

Get acquainted with the position being an adviser that is professional assist your customers spot the caution signs and symptoms of a retirement scam.

Tips on how to help

  • share our frauds avoidance guide (PDF, 122kb, 2 pages) along with your consumers and give an explanation for risks of frauds
  • encourage your manager customers to show our poster (PDF, 266kb, 1 page)
  • advise your clients to place a passionate scam prevention web page on the web site, centered on our news tale (DOC, 173, 2 pages)


Your staff look to you personally for support – your help are able to keep them far from retirement frauds.

Frauds victims lose ?91,000 an average of from their pension, usually their life cost savings.

Get acquainted with your responsibilities – help your staff be ScamSmart and keep their your retirement savings safe.

You’re dealing with before changing your pension arrangements – visit ScamSmart or call the FCA on 0800 111 6768 to see if the firm is authorised
  • don’t be rushed or pressured into making any decision about your pension
  • consider getting impartial information and advice
  • Resources

    Use our pension scams prevention resources to help protect savers how you can help

    • share our booklet (PDF, 122kb, 2pages) on the signs of a scam with your staff
    • adapt our news story (DOC, 172kb, 2 pages) for use on your intranet
    • display the poster (PDF, 266kb, 1 page) in your workplace
    • post anti-scams messages (JPG, 2017kb) on your social media

    Four steps for savers to prevent pension scams

    1. reject unexpected pension offers, whether in person, over the phone, online, or through social media
    2. check who:

      Have you been a retirement saver?

      Don’t allow a scammer enjoy your retirement. Be ScamSmart and visit to learn more.

      In the event that you suspect a scam, report it to Action Fraud – great britain’s nationwide fraudulence and cybercrime reporting centre.

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