If you’ve spent a good few years of your working life saving into your pension, you may be feeling confident about your ability to retire. However, far too many hard working people are falling victim to pension scams that can see their savings depleted through absolutely no fault of their own.
Are you concerned that your retirement savings have been lost or stolen as a result of a pension scam? Perhaps you’ve received a phone call from a sales person and you’re unsure whether their investments are legitimate or a scam. Read on to learn the most common pension scam warning signs and, if you’ve lost money already, find out what to do to recover it.
Many of the pension scams we’ve witnessed have begun with a cold call. If you’ve received a phone call out of the blue from someone who is telling you about an investment or business opportunity that you’ve never heard of before, alarm bells should be ringing.
Pension scam cold callers often talk about the benefits of the government’s pension freedom reforms before encouraging you to invest all your pension savings with their help.
They may use words like ‘pension liberation’, ‘loophole’, ‘loan’ and ‘one-off investment’. They may also use words that make the investment sound safe and honest such as ‘ethical’ and ‘environmentally friendly’.
Pension scammers often pressure savers into quickly withdrawing their pension pot and investing it with very little planning.
A responsible IFA won’t rush you into making a huge investment without taking time to weigh up your options and really think about what you’re doing. After a lifetime of saving for retirement, the last thing you should be doing is making a split second decision or moving your money to an investment vehicle you’ve not heard much about.
Each year we help hundreds of people obtain financial redress for mis-sold pension investments and pension scams. We understand how devastating it can be to realise that your hard earned savings have been lost or are at risk, and this is why we do everything we can to help.
Please get in touch with our team to learn how we can help you obtain compensation and move on from the devastation of a pension scam.