Cold called about pension charge rebates

Rapscallioniam

I was cold called yesterday. Usually I don't answer the phone if I don't know the number but was expecting a call from the same area code so picked up. I let the guy go through his spiel: "Don't worry I'm not selling anything" (spoiler alert: they are ALWAYS selling something).

His story was that the govt had conducted a review of pension charges and that I could be due a rebate on my private pension. My work pension, he said, would be unaffected because it would have been monitored by the provider.

He asked me for all the details about my private pension I told him I wouldn't have a chance to begin looking for this information until the weekend so he said he'd call back on Monday. I'm obviously not going to take the call (unless of course I can have some fun with a scammer after my pension pot).

I've done a little research and haven't found anything about pension charge 'PPI'

Is it a scam?

Browntoa

Cold call........what do you think

Scam , or at least large fees

Rapscallioniam

I was cold called yesterday. Usually I don't answer the phone if I don't know the number but was expecting a call from the same area code do picked up. I let the guy go through his spiel: "Don't worry I'm not selling anything" (spoiler alert: they are ALWAYS selling something).

His story was that the govt had conducted a review of pension charges and that I could be due a rebate on my private pension. My work pension, he said, would be unaffected because it would have been monitored by the provider.

He asked me for all the details about my private pension I told him I wouldn't have a chance to begin looking for this information until the weekend
So he said he'd call back on Monday. I'm obviously not going to take the call (unless of course I can have some fun with a scammer after my pension pot)

I've done a little research and haven't found anything about pension charge 'PPI'

Is it a scam?

Browntoa

And merged with your other thread with identical text

zagfles

Yes it'll be a scam. They'll probably send a courier round with some papers for you to sign, and try to move your pension to some dodgy investment in Cape Verde holiday properties or student accomodation or eco-forestry or any of the usual dodgy investments, where you'll likely lose your pension and possibly get HMRC chasing you for tax as well.

k6chris

Cold call = Scam = Hang-up

Any questions?

dunstonh

His story was that the govt had conducted a review of pension charges and that I could be due a rebate on my private pension.

The Govt have done no such thing

My work pension, he said, would be unaffected because it would have been monitored by the provider.

Seeing as the providers use the same systems for group schemes as they do individual schemes, that does not make any sense.

I've done a little research and haven't found anything about pension charge 'PPI'

PPI is product type. Pensions cant have PPI on them. So, you wouldn't find anything.

There are no issues about pension charging either.

Pension cold calling is being banned. So, the scammers need another way to get in the door. So, they can make up false reasons, get hold of your pension info on a pretence. Then happen to drop it into conversation how bad your pension is and how they can get it done so much better. They slag off your provider so much that you believe the scammer and fall for the scam. Your pension ends up investing in unregulated investments like Cape Verde property, biofuels, forestry, storage pods, airport parking spaces etc and you end up losing most or all of it.

Its a scam

Rapscallioniam

Thanks for your replies. I thought so.

Might have some fun wasting this guy's time on Monday.

jennyjj

Rapscallioniam wrote: »

Thanks for your replies. I thought so.

Might have some fun wasting this guy's time on Monday.

Depending on how valuable your time is, compared to entertainment value, I'd go for wasting their money too. See if yo can't get them to arrange couriers and visits. But don't give them any true facts at all. Not date of birth, not pension provider, not NI number. Maybe even try to get them to believe you have a different name and address to what they have on record.
Maybe get it all recorded too for tasty youtube content.