Pension scams are becoming increasingly common and sophisticated, and unfortunately pension schemes remain a target for fraudsters. Scammers are always finding new ways to appear professional, making it harder than ever to tell the difference between a legitimate approach and a fraudulent one.
Be alert to any unsolicited contact about your pension, particularly where you are offered guaranteed high returns or exclusive investment opportunities. Be wary if you are pressured to act quickly or discouraged from seeking independent financial advice. Claims that you can access your pension before the normal minimum pension age should be treated with extreme caution, as doing so will almost always result in significant tax charges and may indicate a scam.
If you have concerns about any communication you have received about your pension with us, please contact the Next pensions team. You can also report suspected scams to Report Fraud on 0300 123 2040 or https://www.reportfraud.police.uk/reporting-a-fraud/. The Pension Scams Action Group have issued some helpful information linked here about what to do if you are ever approached about your pension which we recommend you read and save for future reference.
