Retirement Fraud
Pension Scams
A pension scam can erase decades of retirement savings in a single transfer. We help victims of pension liberation, SIPP mis-selling, and unregulated overseas transfer schemes recover their lost funds.
The Mechanics
How pension liberation schemes operate
Pension scams rely on exploiting complex financial regulations to trick victims into signing away their retirement funds. Understanding the transfer process is critical to identifying the liable parties.
The Hook
The victim is contacted with an offer for a "free pension review" or promised unusually high, guaranteed returns on their retirement pot.
The Transfer
The victim is pressured into transferring their existing pension into a new Self-Invested Personal Pension (SIPP) controlled by the scammers.
The Investment
The funds are immediately invested into high-risk, unregulated, or entirely fictitious assets like overseas property, storage pods, or carbon credits.
The Loss & Tax
The exotic assets fail or vanish. If funds were accessed early, HMRC hits the victim with an unauthorized payment tax charge of up to 55%.
Scam Vehicles
Common types of pension scam investments
Scammers use specific types of exotic assets to drain SIPPs. These investments are often completely unregulated and impossible to liquidate.
Overseas Property
Investments in foreign real estate developments that are either never built, vastly overvalued, or legally unobtainable.
Green Energy & Pods
Carbon credits, forestry schemes, or storage pods that generate zero actual yield and cannot be sold on the open market.
Crypto SIPPs
Pension funds funneled into unregulated cryptocurrency platforms or fake blockchain projects that eventually collapse.
Loan Origination
Pension funds used to issue high-risk loans to unconnected third parties or the scheme operators themselves, which are never repaid.
Our Approach
Our Recovery Process
Review
We analyze your pension transfer paperwork, advice records, and the destination scheme structure.
Identify
We identify the regulated parties who facilitated the transfer and any breach of FCA duty.
Claim
We pursue FOS, FSCS, ceding scheme, and direct civil claims as appropriate to maximize recovery.
Recover
We secure compensation up to £85,000 per regulated firm via FSCS, plus uncapped FOS awards.
Legal Authority
We leverage UK pension regulations
Pension transfers are heavily regulated. When firms fail to follow FCA rules, we use the regulatory framework to force compensation, even if the underlying investment has gone to zero.
FOS Complaints Against SIPP Providers
We hold the regulated SIPP provider liable for accepting unsuitable, high-risk assets or failing to verify the legitimacy of the receiving scheme.
FSCS Protection
If the regulated adviser or SIPP provider has gone out of business, we file claims with the Financial Services Compensation Scheme for up to £85,000.
HMRC Unauthorised Payment Challenges
If you were deceived into an early liberation scheme, we liaise with HMRC to challenge the punitive 55% unauthorised payment tax charges.
How Pension Scams Work
Most pension scams begin with an introducer offering a free pension review. The victim is then advised to transfer their existing pension into a self-invested personal pension (SIPP) holding unregulated investments, such as overseas property, storage pods, green-energy schemes, or carbon credits, that go on to fail. Others involve outright pension liberation, where funds are accessed before age 55 in breach of HMRC rules, triggering tax charges of up to 55% on top of the loss.
Routes to Recovery
- FOS complaints against the regulated SIPP provider for accepting unsuitable assets
- FSCS claims against failed regulated advisers (up to £85,000)
- Civil claims against unregulated introducers and scheme operators
- HMRC liaison to challenge unauthorised payment charges where the victim was deceived
£115,000 Pension Restored After SIPP Provider Failure
Our client was advised by an unregulated introducer to transfer their defined benefit pension into a SIPP holding overseas forest land. The land was worthless. The introducer had vanished, but we identified that the regulated SIPP provider had failed to conduct adequate due diligence on the exotic asset. We filed a complaint with the FOS, which ruled the SIPP provider breached FCA rules by accepting the asset. The provider was forced to restore the pension pot in full.
Lost your pension to a scam?
Speak with our specialists today for a free, confidential consultation.
Common Questions
Frequently Asked Questions
Not necessarily. The regulated SIPP provider that received your transfer may still be liable for failing to check the suitability of the destination investments or the legitimacy of the introducer.
If a regulated firm was involved and is now in default, yes. The FSCS will pay up to £85,000 per person, per authorized firm.
Yes. Where the transfer was procured by deception, we can challenge the unauthorised payment charges alongside the recovery claim to mitigate the tax liability.
Take Action Today
Affected by a pension scam?
Our team of expert fraud lawyers can help you recover your lost retirement funds. No win, no fee.