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For members of the Local Government Pension Scheme in England and Wales

Could pension scams increase?

This news article was published on 24 Jan 2022

Yes. Watch out for scams related to coronavirus (COVID-19). These scams may take many forms and could be about insurance policies, pension transfers or high risk investment opportunities, including investments in crypto-assets.

Scammers are sophisticated, opportunistic and will try many things. They are likely to target the vulnerable. Beware of investments that appear too good to be true.

To protect yourself you should:

  • reject offers that come out of the blue
  • beware of adverts on social media channels and paid for or sponsored adverts online
  • use the Financial Services Register and Warning list to check who you are dealing with
  • not click links or open emails from senders you don’t know
  • avoid being rushed or pressured into making a decision
  • not give out personal details links bank account details, your address or information about your existing insurance policies, pensions or investments.

If you suspect a scam, call Action Fraud right away on 0300 123 2040.

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