Rogue pension websites are displaying anti-scam messages in a bid to try and trick customers out of their savings, despite the government cracking down on pension fraud.
Last month, the Department for Work and Pensions announced plans to ban pension-related cold calls to protect retirees from unauthorised contact by fraudsters.
Despite the planned legislation, the Pensions Regulator (TPR) remains concerned about scam sites targeting vulnerable savers or those with limited knowledge on pensions.
Several suspected scam sites have been referred to the TPR on suspicion of posing as a legitimate business.
Reports suggest some scam sites carry warning messages designed to lull savers into a false sense of security, such as referencing tax implications over accessing your pension before the age of 55 and the danger of cold calls.
Lesley Titcomb, chief executive and TPR, said:
“These sites are wolves in sheep’s clothing, lying in wait for unsuspecting victims by portraying themselves as being beyond reproach.
“The truth is this next generation of scam sites pose a real threat to people’s financial futures and should be avoided.
“We welcome the government’s tough new measures, which will strike a significant blow to pension scammers who devastate people’s lives by duping them out of their life savings.”
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