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Are you saving enough?
Find out how much your lifestyle could cost when you retire and how to work out if your savings are on track.
Are you saving enough?Be extra vigilant of pension scams!
Transferring your pension
During this uncertain time, members of many pension schemes might look to transfer their pension and this could make them a prime target for pension scammers. If you are thinking of transferring your pension, please be extra vigilant, and visit ScamSmart and pension-scams.com where you can find specific guidance relating to COVID-19.
Transferring your pension without fully understanding the consequences poses a significant risk. Scammers are known to be taking advantage by rushing decision-makers into illegal transfers.
Please, consider speaking to an independent financial adviser (IFA) who is registered with the Financial Conduct Authority before making any decisions about your finances. You can find a list of IFAs in your area at unbiased.co.uk.
Recognising pension scams
Fraudsters may try to offer some, or all, of the following to lure you into a scam:
- early access to your pension (before 55)
- guaranteed returns on investments
- free pension reviews and health checks
- pension loans or cash upfront
A cold call or unsolicited text or email will often contain some of the phrases listed above.
Protect your pension
Here are some tips on how to make sure your pension savings are protected:
- Don’t engage with cold calls (and texts or emails)
- Check, check and check again before you agree to anything to do with your pension
- Make sure your adviser is on the Financial Conduct Authority (FCA) approved register
- Check the FCA’s list of known scams
- Don’t fall for professional-looking websites or brochures
- Don’t rush or be rushed
Scammers are very clever and make sure they sound legitimate so you think they are honest, credible, and have your best interests at heart.
Get more information and help
It is extremely important that you seek independent guidance and advice before you make any decision about your pension.
Don’t ever be rushed into a decision. Before you sign anything, you can look to MoneyHelper for advice.
And if you think you’ve been a victim of a scam, please report it to Action Fraud by calling 0300 123 2040.
Matt Riley
Manager
Matt joined Zedra Governance Limited (formerly PTL) in January 2008 having previously worked for Mercer Limited, Hazell Carr and Prudential.
As a Manager for the company's Birmingham Office, Matt’s responsibilities include working closely with Client Directors and individually liaising with Employers, Trustees and Members to ensure the smooth running of their pension schemes. Matt’s current portfolio of clients covers ongoing, paid-up and winding-up schemes. In addition, Matt has experience of schemes that have transferred or are in the process of transferring to the Pension Protection Fund and Financial Assistance Scheme. Matt also works closely with clients in relation to risk registers and internal controls.
Matt particularly enjoys resolving issues in a fair and pragmatic way ensuring that the right result is reached for the member or employer.
Sam Burden
Client Director
Sam Burden joined Zedra Governance (formerly PTL) in 2022. He is an Accredited Professional Pension Trustee (AMAPPT) and an Associate of the Pensions Management Institute (APMI)
Sam has more than 25 years’ experience in the pensions industry gained with WTW, KPMG, and Standard Life working with a wide range of pension schemes and sponsoring employers. His trustee appointments include DB, DC and hybrid pension schemes and he has experience of handling a broad range of projects relating to the management of pension schemes.
Beyond his pensions experience Sam is a former Birmingham City Councillor where he chaired the audit committee and a current charity trustee.
Payam Kazemian
Client Director
Payam Kazemian joined Zedra Governance Limited (formerly PTL Governance Limited) in 2021. He is an Accredited Professional Pension Trustee (AMAPPT) and an Associate of the Pensions Management Institute (APMI).
Payam has more than 17 years of experience in the pensions industry. Through his current role as a professional trustee, as well as previously as a pension’s de-risking and investment structuring expert at financial institutions including Goldman Sachs and Deutsche Bank, he has had overall responsibility for creating investment, de-risking, journey planning, and governance solutions for a wide range of UK DB pension schemes. He currently holds a number of board positions (as Chair of Trustees) and sole trustee in his professional trustee capacity. Payam has been involved with a number of pensions projects including pensions buy-in, pensions buy-out, GMP equalisation, investment strategy reviews, and dialogue with the pensions regulator. Payam looks to create and believes in a collaborative relationship between the sponsor, the trustee, and all other parties involved as this results in best member outcomes and helps deliver pragmatic solutions for scheme. Aside from his pensions experience, Payam holds a Ph.D. in Materials Science from the University of Cambridge.
