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New pension scams campaign launched

New pension scams campaign launched

Category: Pensions

Updated: 11/01/2016
First Published: 11/01/2016

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

A new campaign is being launched today to help warn people of the dangers of pension scams, and ultimately, help ensure that those who want to take advantage of the pension freedoms don't lose out.

New Year Pension Scams Campaign 2016

The campaign is being launched by The Pensions Advisory Service (in association with Project Bloom) and will include images, key messages and top tips that are set to be released every day for the next week.

It's a campaign that's well worth talking about, particularly with pensions remaining firmly in the spotlight. A growing number of people are both joining pension schemes and finding that they can access their pot more flexibly, but unfortunately this increases the chance of being targeted by pension scammers who may try to offer "lucrative" places in which to transfer a lifetime of savings.

"Much work has already been done to help raise consumer awareness about scams," it said in a statement, "but the message needs to continue to make sure that pension savers can identify the warning signs of a scam, know where to go for help and guidance and what to do next if they think they've fallen victim. By raising awareness of this potentially devastating issue, pension savers can make sure that their plans for later life are scamproof, ensuring that their financial future is protected."

Be on your guard

Not only have the pension freedoms opened up more opportunities for scammers, but it can be a particular issue at this time of year, too, as Michelle Cracknell, chief executive of the Pension Advisory Service, explains: "We know that scammers will target anyone at any time, but the period after Christmas, when money is a little tight, is a prime time for people to be contacted out of the blue with unrealistic offers of fast cash. It's important that we keep highlighting to consumers the best way to protect their pensions from these opportunists and raise consumer awareness of pension scams."

Get involved!

Whether you could be at risk or are years away from retirement, why not get involved? It's a truly social campaign with the content being shared across all social media channels (Facebook, Twitter and LinkedIn), and consumers are being encouraged to follow and support the campaign by following @TPASNews, @TPRgovuk or by getting involved with the #protectyourpension hashtag.

Michelle concludes: "The campaign launching today will continue to improve people's knowledge of scams, what a scam looks like and how it might impact their later life, should they fall victim. We urge anyone to get in touch with us on 0300 123 1047 if they aren't sure what they're being offered; it's better to be safe than sorry."

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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