Random phone call about my pension?

martyp

Hi all,

Not sure if anyone else has had this but I kept getting missed calls from an 01772 number so answered it to find out why they were calling (I'm TPS registered also).
They were calling from 'Future Pensions' or 'Pension Planning' or something like that and said they knew I had contributed to a pension (random conclusion or they find that out from somewhere?). They asked loads of questions about my pension which was from a company I left last year after just 2 and a half years. They concluded I'd get over half of my annual salary back as the pension.
They wanted to send me an 'ILA' or something in the post for an IFA to see if they could beat my interest rate on the pension. No charges apparently, they get commission from the pension provider.
They had all my address details etc. I don't know where from, possibly a research survey I might have done at some point (ages ago!).
It sounded favourable if no costs involved as I know some IFAs are commission only but is this worth doing?
They also said about the government pushing people to do a regular pension review?

atush

Proper financial service providers WILL NOT COLD CALL YOU. They aren't allowed to under the law.

So do not have anything further to do with this company, they are trying to scam you.

martyp

Excellent, thanks Atush.:)

yangptangkipperbang

Why, why, why, do people even answer these calls - let alone get involved in a conversation with the caller ???

dunstonh

and said they knew I had contributed to a pension (random conclusion or they find that out from somewhere?).

You data is not in the public domain. So, if they actually knew, they would be in breach of data protection. However, in reality, they are just taking a guess as most people have a pension.

They asked loads of questions about my pension which was from a company I left last year after just 2 and a half years. They concluded I'd get over half of my annual salary back as the pension.

really impossible to conclude anything on a short phone call. You need to actually see the documents or have decent info given to you.

hey wanted to send me an 'ILA' or something in the post for an IFA to see if they could beat my interest rate on the pension. No charges apparently, they get commission from the pension provider.

That is a lie. Commission doesnt exist. It would be charged explicitly but taken from the pension.

It sounded favourable if no costs involved as I know some IFAs are commission only but is this worth doing?

No IFAs are commission only. Commission has gone.

They also said about the government pushing people to do a regular pension review?

Another lie.

I'm an IFA and my compliance company have warned us not to take referrals from these cold calling companies. Some cold callers will try and sell the leads whilst others will use an arrangement where the IFA firm could well be in the scam. However, by using an unregulated company to tell you all the lies, the IFA can claim they did nothing wrong.

Never act on cold calls. That is how you get scammed.

Sanchsoot49

yangptangkipperbang wrote: »

Why, why, why, do people even answer these calls - let alone get involved in a conversation with the caller ???

Absolutely no idea, other than being inherently polite, or bored or thinking that despite their suspicions that there just "might" be something in it for them.

Personally if I get calls like that I ask them to hold on a minute while I just turn the cooker off. Then I carry on doing what I was doing before they rudely interrupted me and just leave them hanging on till they get fed up.

You have to feel a bit sorry though for people who for whatever reason feel they have to do this kind of bloodsucking job.

martyp

yangptangkipperbang wrote: »

Why, why, why, do people even answer these calls - let alone get involved in a conversation with the caller ???

I was just intrigued as to know who it was as the number seemed to keep calling, I suspected it might have been regarding a job as I'm job hunting at the moment.
The guy was friendly on the phone so didn't want to be harsh (although probably most people are) and I was keen to know what the company was so I could report them to TPS.
The end result was they agreed to call back tomorrow at a time when I will be in... or maybe I won't be

martyp

Sanchsoot49 wrote: »

Personally if I get calls like that I ask them to hold on a minute while I just turn the cooker off. Then I carry on doing what I was doing before they rudely interrupted me and just leave them hanging on till they get fed up.

In my last couple of jobs I would answer the phone to a sales person and just hang up on them and pretty much wouldn't be bothered by it. They'd ask for a manager/director and I'd say I'd put them through and just hang up. I have answered the home phone a few times and bluntly asked why a company was calling as I was on TPS, often resulting with them hanging up.
It was a bit disturbing they knew my address as well as my number...

martyp

Many thanks dunstonh for the detailed response. The guy that I spoke to initially said they had noticed I had been contributing to a company pension scheme so if the info isn't in the public domain it must have been an assumption I guess.
After speaking to me for a bit he put me on hold for a bit to transfer me through to 'Tom' from some other company to the one that called who was the IFA there. I don't know if he was in the same office or elsewhere but it sounded like he went to get him. He suggested I might be able to get more money on my pension and they'd do a free review. He asked me what kind of pension I had and they hadn't heard of the company I worked for so didn't have that particular information...
I predict my phone will be broken tomorrow when they call back

martyp

Sanchsoot49 wrote: »

You have to feel a bit sorry though for people who for whatever reason feel they have to do this kind of bloodsucking job.

My parents didn't register on TPS as they thought that, saying it kept people in jobs and didn't mind just answering the phone to them!

I accidentally ended up doing two cold calling jobs in the past, the job advert implied they weren't cold calling (e.g. following genuine leads from interested people - strangely pretty much all had no idea of what we were selling. I hated the job, kept coming in late and got the sack!)

Yassa40

Same as previous message for the last few weeks constantly been getting a number coming up of 01704 just ignored it but have been getting so fed of up them constantly ringing decided to answer. They said they were the Pension Review Bureau and it is a new government thing to get people reviewing their pensions. I live in Reading and this company is based in Dorset they wanted all sorts of information and said they would send a courier round to pick up pension paperwork they would then look at it and see if they could help on pension. This is so dodgy and everytime I tried to put him off he would not give up. I am not sure who I can report this to and also don't think for one minute this is a government thing as I have looked on computer.