Today we will look at the first 5 of ten tips to help identify and avoid financial scams.

• If you receive an offer to assist you access your pension assets before the age of 55, such as “pension loans” and “free pension reviews,” you may be able to do so. It is only possible to access your pension prior to age 55 in exceptional circumstances, such as if you are gravely ill.
• Warnings that the offer is time-sensitive and limited. This is a pressure strategy, and under pressure, financial decisions should not be made.
• HM Revenue & Customs (HMRC) will never contact you through email, phone, or text message to tell you of a tax refund; delete or disregard any such communication. HMRC will only contact you via mail.
• It is discouraged that you obtain professional financial counsel or speak with Pension Wise.
• Sign up for the National Fraud Intelligence Bureau’s free Action Fraud Alert service. The programme notifies users of new sorts of crime or those whose severity is increasing. If you sign up, you will only receive alerts that are pertinent to you. https://www.actionfraud.police.uk/signup-for-action-fraud-alert

Tomorrow we will look at the final five of ten tips to help you identify and avoid financial scams, be sure to visit us again. Please contact us for more information on how we can help protect your future financial well-being and the options available to you.

Source data: [1] Source: Research among 2,000 UK adults conducted by Opinium, with fieldwork between 12–16 August 2022.