News updates

01 July 2016

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Be scam-smart

July is Scams Awareness Month. Learn how to protect your pension from fraudsters.

Pension fraud is a growing problem and thousands of people have already lost their savings after falling for a scam.
Scammers can be very convincing and we urge you to be careful to avoid becoming a victim and losing all of your pension savings.
Learn the warning signs to watch out for and always seek independent financial advice before transferring your pension benefits to any other provider.
You can find more information in our scams section or at The Pensions Regulator’s website.

10 tips to protect your pension

The Pensions Regulator recommends you:

1. Be wary of cold calls and unsolicited texts or emails.
2. Check everything for yourself.
3. Make sure your adviser is on the Financial Conduct Authority approved register.
4. Check the FCA’s list of known scams.
5. Steer clear of overseas investment deals.

6. Don’t fall for promises of ‘guaranteed’ returns or professional-looking websites or brochures.
7. Don’t be rushed into a decision.
8. If you’re 50 or over and have a defined contribution pension, talk to Pension Wise.
9. Ask the Pensions Advisory Service for help if you have doubts.
10. Contact RPMI on 0800 2 343434 and call Action Fraud on 0300 123 2040 if you’ve already signed and think you’ve been scammed.



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