Pension liberation fraud is where someone tries to deceive you by convincing you to access money in your pension pot before retirement, normally before you're 55.
Pension scammers are out there – it's just not always easy to spot them. They appear friendly, professional and knowledgeable and they have a way of making people trust what they've got to say.
If you're contacted about withdrawing money from your pensions fund early through an email, letter or cold call and you think something isn't right, please give us a call or chat to your financial adviser. It's important you do this before making any decisions, especially to a company you’re not familiar with.
If you've already become a victim of a pension scam then you could face large tax charges which scammers won't have told you about.
Scammers will regularly move your money in to high-risk investments, often based overseas and there's no guarantee that you'll see your hard earned savings again if anything goes wrong.
Scammers are always changing their tactics so the following are some things that could you help you spot them and stop them:
If you're worried about pension liberation fraud, or if you think you've been targeted, you can get in touch by emailing firstname.lastname@example.org
You can report fraud and cybercrime at ActionFraud the UK's national fraud and cybercrime reporting centre.
Remember and trust your instincts and stay alert to this type of scam.
Protecting you from scammers is important to us. Find out more about how you can keep your personal information and your money safe.