Protect your Pension - Action Fraud Warning

Savers and those reaching retirement age are being warned to protect their pensions and look out for criminals trying to catch people out of their life savings, with Action Fraud revealing a total annual loss of £17,567,249. This equates to roughly £48,129 lost to this type of fraud per day in 2024.

How can you protect yourself against Pension fraud?

Secure your online pension account: the account you use to manage your pension should have different password to all of your other accounts. Use three random words to create a strong and memorable password, and enable 2-step verification.

Ignore unsolicited calls about your pension: cold calling about pensions is illegal and likely a sign of a scam. If you're thinking about changing your pension arrangements, you should get financial guidance or advice beforehand.

Investment opportunities: don't be rushed into making an investment. Remember, legitimate organisations will never pressure you into investing on the spot. You should treat investment opportunities with extreme caution if there's:

Report pension scams by calling Action Fraud on 0300 123 2040