Criminals can be articulate and financially knowledgeable, with credible websites, testimonials and materials that are hard to distinguish from the real thing. They design attractive offers to persuade you to transfer your pension pot to them or to release funds from it. It is then invested in unusual and high-risk investments like overseas property, renewable energy bonds, forestry, storage units, or simply stolen outright.
If you suspect a scam, report it.
• Report to Financial Conduct Authority (FCA) at www.fca.org.uk or by calling 0800 111 6768
• Report to Action Fraud at www.actionfraud.police.uk or by calling 0300 123 2040
• If you’re in the middle of a transfer, contact your provider immediately the get in touch with the Pensions Advisory Service at www.thepensionadvisoryservice.org.uk