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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?Staying safe from scammers
According to Action Fraud, more than 160 new pension scam cases have been reported since the start of the first lockdown in March.
To help stop scammers enjoying your retirement fund, follow this advice from the Financial Conduct Authority (FCA).
1. Reject unexpected offers
Be suspicious if you’re contacted out of the blue and offered a free pension review, especially if it’s a company you’ve not dealt with before. This can happen in person, over the phone, by email, text or online, including social media.
2. Check who you're dealing with
Visit www.fca.org.uk/scamsmart or call the FCA on 0800 111 6768 to see if the firm you are dealing with is authorised. Scammers sometimes pose as well-known firms, so you should insist on calling them back using the contact information for that company on the FCA Register and not with any details they give you. This will help make sure they are who they say they are. Before you do this, we would also recommend you hang up and then call another number you are familiar with, such as a family member or friend, to make sure the previous call is closed and the scammer is not still on the line.
3. Don’t be rushed or pressured
Take time to make the checks outlined here, even if it means turning down what appears to be an ‘amazing deal’. Scammers often succeed by making people think that what they’re offering is only possible for a limited time and pressuring them to sign up on the spot.
4. Get impartial advice
Get independent information and advice before making any changes to your pension. You can do this via MoneyHelper or an independent Financial Advisor. Check that your advisor is FCA regulated and not connected to the company that contacted you in the first place, or they could be part of the scam.
More information about pension scams, including how they work and how to report them, is available through Action Fraud, the UK’s national reporting centre for fraud and cybercrime. Their website can be found here.
The Government has also produced a guide specifically about how to protect yourself from fraud and cybercrime during the COVID-19 crisis. That can be found online here.
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.
