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Pension scammers falsely claim to be calling on behalf of the Pensions Regulator

The Pensions Regulator (tPR) have received two reports of fraudsters calling individuals and falsely claiming to work for the watchdog. The callers offered a “free pension review” in an attempt to obtain details from the individuals about their pension savings.

TPR has confirmed that it never cold-calls individuals about their pensions, a common warning sign of a scam. Head of intelligence for the tPR, Mike Broomfield confirmed "Like all reputable organisations, we never cold-call people about their pensions. If anyone cold-calls you about your pension, it is an attempt to steal your savings - just hang up."

In May, the bill including provisions for a ban on pensions cold-calling received Royal Assent. However, the implementation of the ban has been delayed while the Treasury consults further on "technicalities" in relation to the ban.