The Money and Pensions Service, along with the Pensions Regulator, the Financial Conduct Authority (FCA) have urged people not to make rash decisions in the wake of the COVID-19 pandemic. Fraudsters are taking advantage of investors and pension savers alike in their concerns linked to the current volatile market. Scammers will make false claims to gain your trust, for example they will try to entice you and get you to transfer your pension pot; fraudsters look to exploit people’s anxieties and fears, you may get cold calls, Phishing emails and Ghost brokers to try and persuade your decision making. It is important not to feel pressured, and don’t assume all online sites are genuine. You can also check the financial service register to make sure you are dealing with a regulated company.
