{"id":425,"date":"2021-12-20T15:30:44","date_gmt":"2021-12-20T15:30:44","guid":{"rendered":"https:\/\/www.hamnettwealth.com\/news\/?p=425"},"modified":"2021-12-20T15:30:44","modified_gmt":"2021-12-20T15:30:44","slug":"how-to-avoid-pension-scams-in-2022","status":"publish","type":"post","link":"https:\/\/www.hamnettwealth.com\/news\/how-to-avoid-pension-scams-in-2022\/","title":{"rendered":"How to avoid pension scams in 2022"},"content":{"rendered":"\n

How can you be scam aware\nin the digital age? Here are our top tips for avoiding pension scams.<\/strong><\/p>\n\n\n\n

\ufeffScammers are becoming increasingly intelligent in the digital age. By designing attractive offers, they trick you into sending them money and personal details. Because of this, pension scams are on the rise.<\/p>\n\n\n\n

\ufeffMore and more individuals are falling victim to advanced\npension scams. By asking you to withdraw or transfer your pension pot, scammers\ncan steal a large proportion of your savings.<\/p>\n\n\n\n

According to the Financial\nConduct Authority<\/a>, scammers can persuade you to transfer your pension pot\nto them in a number of ways. From here, it\u2019s then invested in unusual and\nhigh-risk investments – or even stolen outright.<\/p>\n\n\n\n

Common methods include pension review scams <\/em>or early\npension release scams<\/em>. For pension review scams, users are contacted out of\nthe blue and offered a free pension review. Usually you\u2019ll be contacted by\nphone, email or advert.<\/p>\n\n\n\n

When it comes to early pension release scams, scammers claim to offer you early access to your retirement funds \u2013 before you\u2019re 55. If you\u2019re contacted with this information, it\u2019s almost certainly a scam, so be vigilant. In these cases, you\u2019re still liable to paying added tax on money you withdraw from pensions \u2013 even if you\u2019re doing so as a victim to a scam.<\/p>\n\n\n\n

Here’s how to avoid pensions scams in 2022.<\/p>\n\n\n\n

Ignore cold calls or\nunusual attempts to contact you<\/strong><\/h2>\n\n\n\n

If you receive a telephone call out of the blue regarding\nyour pension, hang up immediately. According to the FCA, it\u2019s almost always\nlikely to be a scammer trying to obtain your details. It\u2019s recommended to\nreport these calls to the Information\nCommissioners Office<\/a>, to protect others from falling victim to the same\nscams.<\/p>\n\n\n\n

Equally, the same applies if you receive unsolicited offers\nvia email or SMS. It\u2019s incredibly uncommon for your pension provider or\nfinancial advisor to contact you in this way \u2013 especially if it\u2019s out of the\nblue. If you\u2019re still unsure, contact your provider directly using the number\nlisted on their website.<\/p>\n\n\n\n

Additionally, if a close friend or family member recommends abnormal pension advice to you, always be aware that they may also have fallen victim to a scam.<\/p>\n\n\n\n

Check they\u2019re FCA-certified<\/strong><\/h2>\n\n\n\n

Most pension scammers falsely claim to be FCA-certified.\nFrequently, scammers even claim to be acting on behalf of the FCA. However,\nthis isn\u2019t always the case.<\/p>\n\n\n\n

The Financial\nServices Register (FSR)<\/a> lists all information regarding financial firms\nwhich are FCA-certified. Always check this register before making any decisions\nregarding your finances.<\/p>\n\n\n\n

Additionally, be careful that the contact number used to get\nin touch with you is correct. It\u2019s best practice to use the contact details\nlisted on the FSR.<\/p>\n\n\n\n

Get in touch with your\nfinancial advisor<\/strong><\/h2>\n\n\n\n

Before making any decisions\nregarding your finances, we recommend getting a second opinion from a trusted\nfinancial advisor. By having a second pair of eyes on your decisions, you\u2019re\nbetter equipped to make choices which further your personal wealth.<\/p>\n\n\n\n

At Hamnett Wealth Management,\nwe\u2019re trained to stay scam aware. We can provide you with independent,\nimpartial advice which helps you reach your financial goals. If you\u2019d like to\nfind out more about our services, you can get in touch here<\/a>.<\/p>\n\n\n\n

What to do if you\u2019ve been\nscammed<\/strong><\/h2>\n\n\n\n

If you sense you\u2019ve fallen victim to a pension scam, contact\nyour pension provider immediately. In some cases, they might be able to prevent\na transfer from taking place.<\/p>\n\n\n\n

It\u2019s recommended to report the scam to the Financial Conduct\nAuthority by contacting their Consumer Helpline on 0800 111 6768, or by using their reporting\nform<\/a>.<\/p>\n\n\n\n

As you\u2019ve already been successfully scammed, it\u2019s\ncommonplace for scammers to target you once more. In some cases, they may even\nsell your details to others. Make sure to follow the tips outlined above and be\nextra cautious when it comes to your finances.<\/p>\n","protected":false},"excerpt":{"rendered":"

How can you be scam aware in the digital age? Here are our top tips for avoiding pension scams. \ufeffScammers are becoming increasingly intelligent in the digital age. By designing attractive offers, they trick you into sending them money and personal details. Because of this, pension scams are on the rise. \ufeffMore and more individuals … Continue reading “How to avoid pension scams in 2022”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":426,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[7],"class_list":["post-425","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-pension"],"_links":{"self":[{"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/posts\/425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/comments?post=425"}],"version-history":[{"count":1,"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/posts\/425\/revisions"}],"predecessor-version":[{"id":427,"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/posts\/425\/revisions\/427"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/media\/426"}],"wp:attachment":[{"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/media?parent=425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/categories?post=425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/tags?post=425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}