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Pension Scams and unregulated pension advice – please be vigilant
As reported on this blog back in August, people are finding themselves the targets of pension scams and potentially unregulated pensions advice. You may also have seen an article on the BBC news this morning regarding the potential dangers of taking and acting on pensions advice initiated through a ‘cold call’ (click here for link to BBC news online article).
The Pensions Regulator website contains information and advice on scams and fraudulent financial/pensions advisors and companies – including what to beware of and look out for and who you can contact if in doubt or you are worried about an advisor/company you have been contacted by.
Members of the public can check whether an individual/company is approved by the Financial Conduct Authority (FCA). Further information on this is available on the Pensions Regulator website link above.
Please also see the further information below:
Teachers’ Pensions have also included the following information in their latest e-bulletins to employers.
Extract from Teachers’ Pensions e-bulletin dated 29/10/14:
“Member Presentations – Please be aware
We’re aware that there are a number of companies offering retirement planning seminars specific to Teachers’ Pensions members that are not recommended or approved by us. Please be aware that the only external company approved by us to deliver member presentations is Prudential, our Additional Voluntary Contributions (AVCs) provider.”
New fraudster/scam warning
A new type of scam email is doing the rounds; as with similar previous scams, again fraudsters set up email addresses to look like the email has come from the HMRC. This latest scam relates to pay pal, advising recipients that a payment has been made to your paypal account and asking users to log into their account by following a link provided in the email. The email address relating to these scam emails is HM Revenue & Customs Service @ paypal.co.uk so if you do receive any emails from this address please beware, do not follow any link included in a suspicious looking email. HM Revenue and Customs have a department that deals with fraudulent/phishing emails; details of phishing emails including some sample email addresses are detailed on HMRC’s website along with the address to contact them if you do receive a scam email: http://www.hmrc.gov.uk/security/reporting.htm
If in doubt, always contact HMRC directly to check whether an email you have received which looks like it’s from them, really is from them. Remember, HMRC never email ask for password information by email or issue tax codes or refund information by email.
WEA Payroll and Pension Matters 