Pension scams
This is when someone promises they can make you money by investing some of your pension but then steals it.
How it can happen
Someone contacts you claiming to have a great investment opportunity for people who have access to their pension. They ask you to transfer a (usually) large sum from your pension to another account and then steal it.
They may claim that rules don’t apply to this particular opportunity or lie about how pension tax works. You could even end up owing tax on the money you’ve transferred.
How you can protect yourself
Talk to a pension specialist before you make any changes to your pension or withdraw any money from it.
Check the Financial Conduct Authority (FCA) website to see if the individual or company that contacted you is regulated. The FCA shows registered contact details for all genuine companies so you can call them directly to make sure the investment is legitimate.
Don’t trust anything that seems too good to be true, as it almost always is.