It’s now illegal for companies to make unexpected or unsolicited contact with you about your pension. You still need to be vigilant and report any company breaking these rules to the Financial Conduct Authority (FCA).

Unexpected contact from someone saying that they can offer you interesting or exclusive deals on money from your pension funds, or that they can help you access these funds from your pension early, can be easily mistaken as a legitimate offer. However, if this happens to you, remember that a ban on pensions cold calling came into effect in early 2019, and it’s most likely to be a scam.

Scammers will appear to be highly knowledgeable about pensions, investment rates and even specific schemes. They may present you with credentials that seem legitimate and may have a ‘copycat’ website that looks professional and reputable, with logos from government institutions or the FCA incorrectly used to try and gain your trust.

This does not mean they are legitimate. Always double check their credentials or identity and never make any large-scale decisions about your pension without consulting a financial adviser. For more information and a list of authorised companies, visit the FCA website.