Your pension is one of the most valuable assets you’ll ever own, so it’s no surprise that scammers often target it. Falling victim to a pension scam can devastate your financial future, but by staying informed, you can protect your hard-earned savings. At Creative Pension Trust , we’re committed to helping you safeguard your pension with practical advice and resources.
Recognising Common Pension Scams
Pension scams come in many forms, often disguised as legitimate offers. Be cautious of:
- Cold calls or unsolicited contact: Scammers may contact you directly via phone, email, or text, claiming to offer free pension reviews or investment opportunities.
- High-return investments: If something sounds too good to be true, it probably is. Promises of guaranteed high returns or ‘exclusive’ opportunities are common red flags.
- Early access schemes: Scammers may offer ways to release your pension before age 55 (outside specific circumstances like ill health). These schemes are often illegal and come with hefty penalties.
- Pressure tactics: Legitimate pension providers won’t rush you into making decisions. Be wary of anyone pushing you to act quickly.
For more detailed advice, visit our Member Area, where we break down the key warning signs and how to avoid them, plus FAQs and helpful content written by our experts.
How to Protect Your Pension
Protecting your pension starts with vigilance. Always verify the credentials of anyone offering advice or services by checking the Financial Conduct Authority (FCA) register. Genuine providers will be registered and won’t mind if you take time to confirm their legitimacy.
It’s also important to avoid sharing personal or financial information with unsolicited contacts. Scammers often use this information to gain access to your funds. If you’re ever unsure about your current pension provider, take the time to confirm their legitimacy. As a member of Creative Pension Trust, you can be confident that your pension is managed securely and transparently.
If you suspect a scam, report it immediately to the FCA or Action Fraud. Acting quickly can prevent further harm and may help protect others from falling victim.
How We Support You
We understand how important it is to protect your pension and secure your future. Our workplace pension is designed with robust security measures, giving you peace of mind that your savings are safe. Below are a few ways we provide top-tier security and keep you informed:
- Comprehensive Security Measures: Our pension systems are built with the latest protections to keep your savings secure against unauthorised access or fraudulent activity.
- Personalised Investment Options: We offer a variety of investment funds, including sustainable choices, so you can tailor your pension to match your goals and values while keeping your savings in trusted hands.
- User-Friendly Member Portal: The Creative Pension Trust Member Portal makes it easy for you to stay informed with expert content, as well as track your pension, review your contributions and plan for the future, all in one secure place.
- Ongoing Monitoring and Governance: Our pension schemes are regularly reviewed and governed by industry experts, as well as working closely with employers to ensure your investments remain compliant, secure and optimised for growth.
What to Do If You’re Targeted
If you think you’ve been approached by a scammer, stop engaging immediately. Don’t share any details or make any transfers, and contact your pension provider straight away. For members of Creative Pension Trust , we’re here to guide you through the next steps and minimise any potential damage.
Reporting the scam to Action Fraud or the FCA ScamSmart service is also crucial, as it helps prevent others from being targeted.
Stay One Step Ahead
Pension scams are constantly evolving, but by staying vigilant and informed, you can protect your savings and future. For more advice on managing your pension and protecting it from scams, explore our Member Help Centre or reach out to our team today.
