Pension misuse is rife and there is concern investors could be in the dark about the management of their pension. Take stock and check the credentials of those involved with your pension using the FCA's Financial Services Register. https://www.fca.org.uk/firms/financial-services-register
Whilst there is now a ban on pension cold calling which makes it illegal for any member of the public to receive unsolicited calls about their pension what about those that believe they have been a victim to a pension scam?
Report it to Action Fraud https://www.actionfraud.police.uk/
Fighting back against the fraudsters with the use of insolvency proceedings and other civil procedures.https://www.grantthornton.co.uk/investmentscams/
Thousands of investors and business have lost more than £200m to pension scams operated by a number of companies that were later shut down by authorities, according to government figures. The Insolvency Service said on Monday that, since 2015, it has requested authorities to close down 24 companies that have been involved in “pension misuse”, which included convincing people to transfer their retirement pots to risky, unregulated investments. Eight company directors have been disqualified in the time, the government agency said. Victims of the pension mis-use typically received unsolicited calls from a company offering them an opportunity to invest their fund in financial vehicles promising high returns. Pension cash was then placed into investments such as storage units, which were not regulated and did not deliver on the promised returns.