Fraudsters targeting pensions

ADVICE experts are urging people in Hinckley and Bosworth to be on their guard against pension scammers.

Citizens Advice LeicesterShire (CITAL) says as many as 10.9 million consumers across the country have received unsolicited contact about their pension in the last year.

People are particularly at risk of scams from phone calls, post and emails which come out of the blue.

The research shows that pension scammers’ tactics are becoming more sophisticated with fraudsters offering free pensions ‘ advice’ or ‘reviews’ as a first step towards tricking people out of their pension pots.

CITAL is warning people to be on their guard against pension scam warning signs, such as high investment returns of more than 8% and offers to access your pension before the age of 55.

Richard Evans chief executive of CITAL said: “Talking to family and friends can be a good way to stay safe from pension scams. If you think you’ve been targeted by a scam, it’s vital you report it and spread the word. By raising awareness, more people will know what warnings signs to look out for and how to report scams. CITAL can help if you are worried that you may have been targeted by scammers.

“If you are over 50 with a defined contribution pension, Pension Wise guidance can help you understand what pension scam warning signs to look out for. CITAL can help you book a Pension Wise appointment.”

Tips to avoid being conned include, ignoring any unsolicited contact about your pension, never be rushed into making a decision, check if the company contacting you is regulated by the Financial Conduct Authority (FCA), if you are unsure, contact Citizens Advice consumer service on 03454 04 05 06 or The Pensions Advisory Service on 0300 123 1047.