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If an opportunity seems too good to be true, it probably is

Don’t be a Mark – don’t fall for a pension scam

Don't be a Mark

Image text: Act fast. High returns investment opportunity. Hey Mark, what are you up to?

Image text: I received an email from this investment firm. She says I can use my pension pot to invest in this overseas property scheme. It's got really great returns.

Image text: Are you sure? How do you know it's legitimate?

Image text: She says it's al above board. Mentioned something about the FCAA or something. Anyway, just imagine what I could do with all that extra cash.

Image text: Just imagine...

image description: Person imagining what they could spend their money on.

Image text: What? How could this have happened? They're taken it all.

Image text: Haha thanks Mark.

Be scam savvy

Here are some of the warning signs of a pension scam:

  • You’re contacted out of the blue.
  • You’re offered a free pension review.
  • You’re promised high or guaranteed returns.
  • You’re invited to invest in an overseas opportunity – these may be unregulated, high risk and without consumer protection.
  • Pension loopholes or pension loans are mentioned or even cashing in your pension or accessing your pension before the age of 55.
  • You’re pressured into acting quickly to take advantage of the amazing deal.

Further information

Published: 24 May 2022

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