Types of Pension Scam

Pension scams take several distinct forms, and while each one uses a different story, the underlying goal is always the same: separating you from money you have spent decades building up. Some scams offer illegal early access before the normal minimum pension age of 55 (57 from 2028), some arrive as an unsolicited call or text about transferring your pension — something that has been illegal in the UK since January 2019 — and others hide behind the reassuring words "free review," a real firm's stolen identity, or an exotic-sounding investment promising unrealistically high returns. Recognising the specific pattern behind an approach is one of the most effective ways to protect yourself, because once you know what a scam usually looks like at each stage, an unfamiliar offer stops feeling ambiguous and starts feeling recognisable.

The five guides below cover the most common types in detail: pension liberation fraud, cold-call transfer scams, free pension review offers, unregulated investments, and clone firm impersonation. Each explains how that particular scam typically unfolds, the warning signs specific to it, and exactly what to do if you've been approached or already affected. If you are ever unsure about something connected to your pension, MoneyHelper (moneyhelper.org.uk or 0800 011 3797) offers free, impartial guidance, the FCA's ScamSmart tool at register.fca.org.uk lets you check a firm independently, and Action Fraud (actionfraud.police.uk or 0300 123 2040) is where to report anything you believe is fraud. None of these services will ever ask you to transfer money or provide account details as a condition of helping you — and none of this is about having been careless. Pension scams are built by people who study exactly how to sound credible; recognising that, and asking questions before acting, is always the right response.