We want to make you aware of an important industry alert issued by The Pensions Regulator (TPR), in collaboration with the National Fraud Intelligence Bureau (NFIB), which highlights a growing threat: impersonation fraud targeting pension scheme members.
What’s Happening?
Between October 2024 and March 2025, a significant number of fraud reports were linked to criminals gaining unauthorised access to members’ pension accounts.
Fraudsters use techniques such as email hacking, impersonation, and identity theft to redirect pension funds to fraudulent accounts.
How the Fraud Works
Here are some of the methods used:
- Email hacking: Gaining access to personal emails to gather private pension information, then contacting the pension provider while pretending to be you.
- Fake pension accounts: Setting up duplicate accounts in your name to siphon off funds.
- Weak credentials: Accessing accounts using guessed or known login details, often when the fraudster is personally acquainted with the member.
- Targeting deceased members: Redirecting pension benefits without the family’s knowledge.
Who’s Most at Risk?
Members aged between 50 and 69 are currently the most targeted group, with over half of impersonation fraud reports involving people in this age range.
What You Can Do
Protecting your pension starts with staying informed and securing your information. Here are some important steps to take:
Strengthen Your Online Security
- Enable two-step verification on your email account.
- Keep your contact details up to date with us so we can reach you quickly if there’s a problem.
- Be cautious about sharing personal information via email or phone unless you’re sure of the recipient.
Learn More
- Visit the Stop! Think Fraud website for helpful tips on spotting and preventing fraud.
- View our Scam Alert and FCA Scam Smart pages for information on the latest pension scams
Report Suspicious Activity
If you believe you’ve been targeted by a scam, report it to Action Fraud:
- Online: www.actionfraud.police.uk
- Phone: 0300 123 2040 (Monday to Friday, 8am–8pm)
Your report matters – 67% of these fraud cases were identified by pension savers or their relatives. Each report helps stop scams in their tracks.
Your pension is your future. Stay alert, stay safe, and if something doesn’t feel right – don’t ignore it. If you need help or want to double-check anything, please get in touch with our team.
Email hello@alltrust.co.uk