As part of the Regulators’ joint ScamSmart campaign, new evidence has revealed that it could take 22 years for a saver to build a pension pot of £82,000, which is the average amount victims lost to scams in 2018. But, despite this, many savers could be at risk of falling for scammers’ tactics very quickly.
The research identifies that the more educated an individual is, the more likely they may be to fall for a scam. Over-confidence in dealing in financial affairs is a trait which could result in savers missing a scam.
The Regulators recommend four steps to protect from pension scams:
- Reject unexpected pension offers, whether made online, on social media or over the phone
- Check who you are dealing with before changing your Pension arrangements – check the FCA Register or call the FCA helpline on 0800 111 6768 to see if the firm you are dealing with is authorised by the FCA
- Don’t be rushed or pressured into making any decision about your Pension
- Consider getting impartial information and advice
If you are ever in doubt, please contact us and we will try to help you ascertain whether or not the offer you have received is genuine.
Redwood Financial is one of the south’s leading Investments, Pensions,Wills, Trusts & Estate Planning providers and we are dedicated to helping families to grow, protect and enjoy their wealth. With our unrivalled knowledge of Estate Planning, Lasting Powers of Attorney, Probate, Pensions, Savings & Investments, we can advise on any situation. Come along to one of our FREE Public Seminars on Wills, Trusts & Estate Planning. Book online at Book Me A Place!: call us on 01489877 547 or Email info@redwoodfinancial.co.uk.
