Help Centre for Payroll bureaux

How do I avoid pension scams?

Don’t get scammed out of your pension savings

Pension scams are on the increase. Every day criminals use sophisticated ways to con pension savers out of their money.

Scammers often start by offering a ‘pension review’ or a ‘one-off investment opportunity’. Eventually, this ‘offer’ will depend on you cashing in your savings and transferring them to a third party. As soon as this happens you could lose some or all your money. In addition, you may be liable for significant amounts of tax above the money you lose. You may also receive a lower pension income when you’re retired.

What you should watch out for:
• website promotions, cold-calls, text messages or adverts encouraging you to transfer your savings in order to access a cash payment or loan
• any contact about your pension from a person or a company you haven’t heard of
• offers to help you access your money before the age of 55
• salesmen with investment opportunities that they describe as ‘one-off’, ‘unique’ or ‘time-limited’
• phone calls or emails from people who claim to work for your bank or for a government department.

If you’re not sure:
• Don’t sign anything or transfer money without speaking to the Pensions Advisory Service on 0800 011 3797.
• If you think you’ve already fallen victim to a scam, call Action Fraud on 0300 123 2040.
• Check who you’re dealing with before changing your pension arrangements. Check the ScamSmart website ( or call 0800 111 6768 to see if the firm or person you’re dealing with is authorised by the FCA

You can find out more about protecting yourself from pension fraud at

NOW: Pensions has a good technical infrastructure combined with a pension product suitable for our team. We couldn’t be happier with NOW: Pensions.
Martin Woods,