The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) have issued another joint notice as part of the ScamSmart campaign to continue warning people about pension scammers.
In the warning, consumers are adviser to watch out for:
Research has found that many financially experienced people also fall for scam tactics resulting in
Overall, 42%, that’s over 5 million people, in the UK are still at risk from pension scammers with figures rising to 60% where people are actively looking for ways to boost their pension..
Minister for Pensions and Financial Inclusion said: “Last year’s ScamSmart campaign stopped hundreds of people being scammed and losing as much as £34 million, this years campaign needs to be bigger and better”.
FCA Executive Director of Enforcement and Market Oversight, Mark Steward said: “Get to know the warning signs, check who you are dealing with and make sure they are an FCA authorised firm”.
4 points to protect yourself from pension scams:
Visit www.fca.org.uk/scamsmart to find out more.