Three Things To Know To Avoid Fraudsters Stealing Pensions

The elderly know how to take care of their money. Else there is no way they could have saved enough for their retirement.

But modern methods of fraud could expose their vulnerability especially in an era of unorthodox technologies.

About 11 million British savers fraudsters have in their sights and about 70pc of these numbers had fallen victim in the last year.

Never Trust A Company

Anyone can introduce themselves as a formal government official or company representative.

They would reach out to you then tell you that based on their review, you have an additional 10 or even 20pc bonus in pension value based on their appraisal.

Having such huge percentages is only to get your attention.

Beware of what you listen to, even if they sound like a real company.

Paying Anonymously

Any representative asking you to pay in cash vouchers is highly likely a fraudster.

Never go out and purchase these cash vouchers on a whim to pay for their “service”.

This is not a service; it is a trick to get some money out of you.

Unfortunately, this isn’t where their scams end.

Never Give Out Your Personal Information

Never give out your address to anybody. Also, never mention your complete bank account number ot them.

Banks will never ask for your bank account number without your permission.

Bank representatives will mention beforehand that the bank is recording the call. If this was not mentioned, beware of mentioning your personal information.

Too Good To Be True

If an investment gives out a huge payout that sounds too good to be true, it then really is.

Use this as a rule of thumb when listening to scammers calling through your phones.

Mentions of vineyard, properties or even restaurant investments are mere shams designed to coax you into providing funds that would get nowhere.

Hundreds of thousands of Britons fall victim every day. Safeguard your pensions and funds by staying informed.