Online scams are rising as more people in the UIK are forced to use online only services by banks, large utility companies and public sector departments. Although in theory you can phone a call centre, the waiting times are often over 45 minutes, with a voice message telling customers to try online instead. From bogus HMRC tax refunds to phantom packages that need your e-signature, scammers have had easy pickings since the Covid lockdowns, working from home and the “There’s an App for that” marketing mindset.
Older people who haven’t used the web much are often an ideal target for scammers, with fake phone calls to landlines being the favoured route in. But there are many mobile phone text message scams too. For anyone aged 55 plus pension scams are ones to watch out for, especially after Martin Lewis mentions pensions on his TV show. That seems to produce thousands of messages promising “pension refunds” or “claim government pension top ups” and so on. It’s almost like the scammers are watching on You Tube and taking notes…
What can you do?
Insurance Edge has three very simple rules.
One, if you are NOT expecting a text message from a pension provider or the government, then don’t click on it, don’t answer it. If it is something genuinely important, they will send it again, or more likely write you a letter.
If you think you have a claim, or something has gone wrong with your State pension you can write a letter. The government doesn’t want you to write a letter, but it does have a list of regional DWP, child benefit, industrial disability and other benefit mail processing offices. They are well hidden on the GOV website, but we tracked down the mailing centre list on this page, full list here.
Two, if you think that you are entitled to some extra pension credit payments, or you want to check on old pensions that you think owe you money, then write to the government department unless you are 100% confident when using the internet. Some websites which appear at the top of pages for common search terms are fake, or sponsored. If you have no friends or relatives who can help, then contact Help The Aged or Citizens Advice. It will take much longer to make enquiries, but it’s much safer than trying to learn how the internet works whilst entering financial information.
Three, if people in companies or public sector departments are told you are a vulnerable person, then many have dedicated teams who can guide you through pages of online gobbledegook and badly written forms. Often they will call you back and once you have verified your identity, then can be very helpful for things like transferring money from bank accounts, setting up or cancelling direct debits, pension queries etc. So don’t be shy about stating “I am a vulnerable person, please help me do this.” It’s better than being scammed, or making a mistake online and missing out on pension payments.
Hope that helps, here’s the word from Scottish Widows;
Robert Cochran, Senior Corporate Pension Specialist at Scottish Widows, commented on pension scams:
“Incidents of pension scams are on the sharp incline, with scammers increasingly using factors such as the rising cost in living and loneliness to take advantage, with more than one in ten (13%) people revealing they’ve been targeted recently.
“Pensioners between the ages of 65 and 74 are the most likely age group to be scammed into sending money to fraudsters, with the number of cases in this age bracket rising by almost 75% year on year**, posing a huge threat to their now accessible retirement savings, and ultimately the security of their immediate future.
“Although the tactics being used by scammers are becoming increasingly sophisticated, there are tangible steps to prevent and take action against pension scams. It’s important that first and foremost, you contact the Action Fraud Team, the UK’s national reporting centre for fraud and cybercrime, if you suspect any form of pension scam.
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Ever been promised the chance to get your pension lump sum early? Robert Cochran adds;
“There are also a number of signs younger people can look out for, including unsolicited cold calls, offers for high rate-of-return schemes, suggestions that you can access pensions before the age of 55 and requests to withdraw money from your pension pot first. Being aware of these signs can ensure that potential scammers are stopped in their tracks and lifetime pension savings are protected.”
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