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What to do if you suspect a scam

Step one

Contact the pension scheme member to establish whether they understand the type of scheme they’ll be transferring to and send them the pension scams scorpion booklet (PDF, 1,021kb, 7 pages).

Step two

Speak to the member at risk – over the phone, via email or letter. It could help you establish answers to more of the questions in the checklist in the pension scams action pack (PDF, 1,533kb, 11 pages) where you’ve been unable to answer them with the information you have available.

Step three

Direct the member to Action Fraud if you think it’s a pension scam, or the Pensions Advisory Service who can help the member understand the risks of pension scams including the potential tax consequences of the transfer if any part of the arrangement is deemed as unauthorised.

Step four

If the member insists on proceeding with their transfer request, and your concerns remain, then you should alert Action Fraud yourself and if necessary seek your own legal advice. There could still be time to protect this member, or others who follow in their footsteps.

Content to take away

Our pension scams action pack provides background for trustees on how to spot potential pension scams, what to do if you suspect a scam and who to contact. It also contains guidance on how to proactively educate members about pension scams and a checklist to help spot them.

Pension scams: action pack (PDF, 1,533kb, 11 pages)

We’ve produced a member leaflet containing pension scams warning signs and what do to if a scam is supected, which you can use in your annual benefit statements and whenever you issue a transfer pack to a member.

Pension scams: leaflet for members (PDF, 608kb, 2 pages)

Or there is a more detailed version that also includes background on scams, checklists and a case study, which you could include in your packs or on your website or when contacted by a member.

Pension scams: booklet for members (PDF, 1,021kb, 7 pages)

We’ve also produced a one-page flier that is designed to be printed out and displayed in work places to help raise awareness of pension scams.

Pension scams: poster (PDF, 770kb, 1 page)

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