SRC Wealth Management | a Chartered Financial Planning company that provides specialist advice on defined benefit pension transfers

Beware 'Cold-Callers'


The Pensions Regulator (TPR) has sent out a warning that scammers posing as TPR staff are cold calling pension holders and offering them a free pension review unlike the pension regulator, which says it never cold-calls individuals about their pensions.

TPR’s guidance for anyone who receives such a call is to put the phone down and contact Action Fraud on 0300 1232040.

TPR have also usefully highlighted the five signs of a scam. These are:

  • The promise of a free pension review;
  • The promise of guaranteed returns on your investment;
  • Low tax or tax-free rates, including tax-free lump sums;
  • Exotic-sounding and/or overseas investments; and
  • Pressure to sign up quickly to avoid missing out.