The Financial Services Register lists companies that are FCA authorised, so be sure to check this before making any decisions about what to do with your pension. You should also consider seeking financial advice from a regulated financial adviser before making any decisions on what to do with your pension.
Scenarios like this are on the increase as fraudsters seek to gain people’s trust online. Don’t fall victim to a pension scam; carry out your own research so you know who you’re dealing with.
Check the Financial Services Register to find out whether a company is FCA authorised. If there are no contact details on the FCA Register or if the firm claims they’re out of date, you should call the FCA’s Consumer Helpline on 0800 111 6768 to check that the firm is authorised. You should always consider taking impartial advice from an FCA-authorised financial adviser before making decisions about your pension. Remember the old adage: ‘If it sounds too good to be true, it probably is’.
Why not take our quiz to see how much you know about the tactics fraudsters use?
Learn more about pension scams by visiting the FCA’s ‘How to avoid pension scams’.
You can also visit MoneyHelper, who are an independent and impartial organisation backed by the government for information on pensions and retirement, investing and how to find a financial adviser.
USS has pledged to combat pension scams. We follow the principles of the Pension Scams Industry Group Code of Practice and regularly warn our members about pension scams.