Real Pension Provider vs Pension Liberation Scam
Identify a genuine pension provider versus a pension liberation or pension review scam.
Last reviewed: 1 June 2026
Pension liberation scams promise early access to your pension pot, often disguised as a 'free review'. The tax consequences and fees can wipe out savings. The contrasts below help you protect your retirement money.
Side-by-side comparison
| Real pension provider | Pension liberation scam | |
|---|---|---|
| Early access | Explains that early access before 55 (57 from 2028) attracts a 55% HMRC tax charge | Claims you can access your pension at any age without tax penalties |
| Fees | Regulated fees disclosed upfront; no upfront payment to release your money | Takes a large percentage before transferring (or loses all funds) |
| Authorisation | FCA-authorised; verifiable on the FCA register | Not on the FCA register; may show a cloned or fabricated entry |
| Unsolicited contact | Rarely cold-calls; does not pressure transfers | Unsolicited call, text, or social media ad promising 'free pension review' |
| Transfer destination | Transfers only to HMRC-registered pension schemes | Transfers into an unregistered scheme or offshore wrapper |
Common red flags
- Promise to unlock your pension before age 55 without tax consequences
- Cold call or text offering a 'free pension review'
- Not listed on the FCA register or Pension Tracing Service
- Upfront fee or commission to 'release' your pension
- Pressure to transfer quickly before you can seek independent advice
Verification steps
- Check the firm on the FCA register at register.fca.org.uk
- Use the government's Pension Tracing Service for lost pensions rather than any cold-caller
- Seek independent regulated financial advice before any pension transfer
- Report unsolicited pension contact to The Pensions Regulator
What not to do
- Don't transfer your pension based on a cold call or unsolicited review
- Don't pay any upfront fee to access your own pension
- Don't assume an FCA number is genuine — always check the register directly
A safe response
End the call or contact. Check the company independently on the FCA register and speak to a regulated independent financial adviser before making any pension decision.
Frequently asked questions
Can I access my pension before 55 legitimately?
Only in very limited circumstances such as serious ill health, and only through your authorised provider. Any third-party promising early access without a 55% tax charge is running a scam.