Don’t let a Pension Scammer enjoy your retirement

In the world we now live it, it has become a regular occurrence that people are getting scammed out of their pension funds. Please be vigilant and remember the phrase “If it seems too good to be true, it probably is”

Pension scams can be hard to spot. Scammers can be articulate and financially knowledgeable, with credible-looking websites, testimonials and materials that are hard to distinguish from the real thing.

How pension scams work -

The warning signs Scam offers often include:

• Free pension reviews.

• Higher returns – guarantees they can get you better returns on your pension savings.

• Help to release cash from your pension even though you are under 55 (an offer to release funds before age 55 is highly likely to be a scam).

• High-pressure sales tactics – the scammers may try to pressure you with ‘time-limited offers’ or even send a courier to your door to wait while you sign documents.

• Unusual investments – which tend to be unregulated and high risk and may be difficult to sell if you need access to your money.

• Complicated structures where it isn’t clear where your money will end up.

• Arrangements where there are several parties involved (some of which may be based overseas) all taking a fee, which means that the total amount deducted from your pension is significant. • Long-term pension investments – which mean it could be several years before you realise something is wrong.

4 simple steps to protect yourself from pension scams Step 1 - reject unexpected offers If you are contacted out of the blue about a pension opportunity, chances are its high risk or a scam.

Step 2 - check who you’re dealing with

Check the FCA Register to make sure that anyone offering you advice or other financial services is FCA authorised.

Step 3 - don’t be rushed or pressured

Take your time to make all the checks you need – even if this means turning down an ‘amazing deal’. Be wary of promised returns that sound too good to be true and don’t be rushed or pressured into making a decision.

Step 4 - get impartial information or advice

You should seriously consider seeking financial guidance or advice before changing your pension arrangements. Brian Mole IFA Limited are a local Independent Financial Advice Company that has been around since 1981. All our advisers live locally around the Burton and Derby area.

We pride ourselves on giving sensible financial advice, always explained in plain English.we can meet you at your home or in our offices, to suit you.

Please don’t be a victim of this cruel world of pension scams.you have worked hard over many years to achieve the pension funds you now have. Get good independent local advice and understand exactly what you are doing with your pension before it’s too late.

We offer an initial FREE, no obligation appointment for anyone looking to retire and needs advice and guidance.