21/10/2024

 

Anyone can be the victim of a pension scam, no matter how financially savvy they are.

Scammers try to persuade individuals to transfer their entire pension savings, or to release funds from it, by making attractive sounding promises they have no intention of keeping. Pension scams therefore rely on deception, misleading individuals about risks, returns and taxation.

It is important that everyone can spot the warning signs of a scam. The Pensions Regulator (tPR), in association with the Pension Scams Action Group (PSAG), have published a short video as part of Scams Awareness Week to highlight the impact of pension fraud. Watch this video here: Pauline warns pension savers to be scam aware (6min)

If you are in the middle of a transfer and suspect a pension scam in relation to your RGPS pension, please contact the Scheme administrators at First Actuarial immediately, and then get in touch with MoneyHelper at: www.moneyhelper.org.uk.