INVESTMENT AND PENSION SCAMS

There are many ways that scammers persuade people to part with their pension - from promising investment opportunities that are simply too good to be true, to giving false information. They may call several times and could even have your details of any previous investments you've made.

WHAT TO WATCH OUT FOR -

Any cold calls about your pension.

Companies that offer a ‘loan’, ‘savings advice’ or ‘cashback’ from your pension or talk about a new investment techniques.

Offers of investment in stocks and shares, with rates of return that seem to good to be true, or pressure you to act quick.

Offers of pension reviews or new ways to get hold of your pension income before the age of 55 in exchange for a fee, for example by transferring your savings to a different scheme.

Legitimate products that seem overvalued.

Pyramid investment schemes where you pay a fee to join and then need to recruit friends or relatives to get a return.

Offers about investments in cryptocurrency or foreign exchange trading. Most cryptocurrencies aren't regulated by the Financial Conduct Authority, so they're not protected by the UK's Financial  Services Compensation Scheme.

WHAT TO DO -

WHO TO CONTACT -

Check whether companies are authorized by the Financial Conduct Authority on 0800 11 6768 or www.fca.org.uk

Get independent pension advice, contact the Pension Wise Service through MoneyHelper on 0800 011 3797 or www.moneyhelper.org.uk

You could also get advice from an independent financial adviser.

You can report online scam ads on the Advertising Standards Authority's Website on www.asa.org.uk/make-a-complaint/report-an-online-scam-ad.html