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Pension Scam Predictor

by | Jan 19, 2021

Retirement

Pension Scam

A useful pension scam predictor has been launched by an organisation called Help and Advice.

Many people with UK pensions have fallen victim to a pension scam and this step-by-step online application asks simple questions and then provides a score to assess the probability that the pension service offered is a pension scam.

Pension Scam: A sample of some of the questions:

(We have covered some of these topics previously here)

  • Have you been approached to transfer your pension?
  • Was the advisor able to confirm how they got your contact details?
  • Is the company on the Financial Conduct Authority (FCA) register?
  • Is the advisor that spoke to you trying to get you to make a quick decision?
  • Has the advisor claimed that they can get you higher than average rates of investment returns?

There are a few more questions, but you can see from the questions above the direction the ‘advice’ could go if an experienced scammer wanted to part you from your pension.

FCA Regulated Firms

Irrespective of Brexit and the changes to advice within the EU, we are talking about UK pensions and one of the few ways that you can establish any form of competency in the subject is to check the permissions of the UK firm and the qualifications of the advisers. Outside the UK, very few advisers have the knowledge or experience to provide the necessary advice on what is a complex subject.

Article Date 19th January 2021

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Aisa International, s.r.o. is a wealth management firm with an award-winning team who provides investment advice, financial planning, and asset management for U.S., U.K., and E.U. expatriate citizens residing abroad. Holding all current regulatory licenses, including the FCA license in the UK and the Investment Licence in the European Union, Aisa International is uniquely qualified to provide personal financial advice for U.K. pensioners living outside of the U.K. Headquartered in Prague, Czech Republic, Aisa International serves its global clients where they reside through its OpesFidelio network of highly-qualified advisors. For more information, please visit www.asiainternational.cz.   

The views expressed in this article are not to be construed as personal advice. You should contact a qualified and ideally regulated adviser in order to obtain up to date personal advice with regard to your own personal circumstances. If you do not then you are acting under your own authority and deemed “execution only”. The author does not except any liability for people acting without personalised advice, who base a decision on views expressed in this generic article. Where this article is dated then it is based on legislation as of the date. Legislation changes but articles are rarely updated, although sometimes a new article is written; so, please check for later articles or changes in legislation on official government websites, as this article should not be relied on in isolation.

The views expressed in this article are not to be construed as personal advice. Therefore, you should contact a qualified, and ideally, regulated adviser in order to obtain up-to-date personal advice with regard to your own personal circumstances. Consequently, if you do not, then you are acting under your own authority and deemed “execution only”. The author does not accept any liability for people acting without personalised advice, who base a decision on views expressed in this generic article. Importantly, where this article is dated then it is based on legislation as of the date. Legislation changes but articles are rarely updated, although sometimes a new article is written; so, please check for later articles or changes in legislation on official government websites, as this article should not be relied on in isolation.

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Post written by:

Chris Lean

In the UK he worked with accountants as an independent financial adviser, qualified as a Chartered Financial Planner and became an examiner for the Chartered Insurance Institute. He also qualified as a European Financial Planner and specializes in investment and pension advice to clients.

Aisa International is the only financial advice service company specialising in advice for expats that is regulated as a Securities Trader in the Czech Republic, USA, and UK.

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