Fake Pension Transfer Cold Call Scam Examples
Cold callers impersonate pension advisers or government review services to persuade you to transfer your pension into a fraudulent scheme, often wiping out retirement savings.
Last reviewed: 1 June 2026
Sanitized example messages
Illustrative, sanitized examples. Personal details are replaced with placeholders such as [phone number] and [fake link].
Hello, I'm calling from the [Pension Review Service]. We've identified that your current pension may be underperforming. We can help you access better returns — can I take a few details?
This is [Company Name] pension advisers. New government rules mean you may be eligible for a free pension review. We can unlock your pension early for a one-time administration fee.
We're conducting a free pension audit on behalf of [pension provider name]. Your current plan has high charges. We can transfer you to a higher-performing scheme — I just need to verify your policy number.
What the scammer wants
To persuade you to transfer your pension into an unregulated or fictitious scheme, collecting the funds and leaving you with a large HMRC tax bill and no savings.
Red flags in the message
- Unsolicited cold call about your pension
- Claim that you can access your pension early without tax penalties
- Upfront fee to complete the pension review or transfer
- Pressure to transfer before you can take independent advice
- Company cannot be found on the FCA register
A safe response
End the call immediately. Verify any pension contact by calling your provider on a number you find on their official website or an FCA-authorised financial adviser.
What not to send
- Pension policy numbers
- National Insurance number
- Bank details or pension transfer authority forms
What to do if you already replied
- Contact your pension provider immediately to halt any transfer instruction
- Check the firm on the FCA register and report to The Pensions Regulator
- Seek independent financial advice before taking any further action
Evidence to preserve
- Screenshot the full message or call details
- Note the sender number, email, or profile
- Save any links (without clicking) and payment details
- Record dates and times