Birmingham City Council financial challenges - time to Reset

To find out more about the budget and section 114 notice visit our budget information page

Pension scams

Be wary of offers of free pension reviews. Professional advice on pensions is not free – a free offer out of the blue from a company you have not dealt with before is probably a scam.

Scam offers often include:

  • Free pension reviews
  • Higher returns - guarantees they can get you better returns on your pension savings
  • Help to release cash from your pension, even though you’re under 55 (an offer to release funds before age 55 is highly likely to be a scam).
  • High pressure sales tactics - the scammers may try to pressure you with ‘time limited offers’ or even send a courier to your door to wait while you sign documents.
  • Unusual investments - which tend to be unregulated and high risk, and may be difficult to sell if you need access to your money.
  • Complicated structures where it isn’t clear where your money will end up.
  • Long-term pension investments – which mean it could be several years before you realise something is wrong.

Check the FCA register to verify the person(s) offering advice is authorised by the Financial Conduct Authority.

If you suspect a scam, report it

rating button