Beware!! Pension fraud continues to rise

Since the introduction of pension freedoms in April 2015, fraud related crime generated through pension scams has steadily been on the increase. The City of London Police recently reported that the amount of fraud for March 2017 was £8.6m making this the highest recorded month and bringing the total amount of recorded fraud to £13m for the first quarter of 2017. This compares to a total of £19m for the whole of 2016. It is feared the true level of fraud could be considerably higher.

The Pensions Advisory Service (TPAS) recently launched an online tool specifically designed to provide support and guidance to pension savers and the Pensions Regulator (tPR) has also released a series of videos which can be viewed on their website http://www.thepensionsregulator.gov.uk/individuals/dangers-of-pension-scams.aspx

If you suspect you have been contacted by a pension scammer please contact Money Helper for help. You can call them on 0300 123 1047 or visit the Money Helper website here for free pensions advice and information.