The Pensions Regulator has introduced new online messaging in its effort to combat pension scams.

Two new pieces of animation are now being circulated via social media platforms Facebook, Twitter and YouTube to directly drive awareness to fraudulent pension businesses. The first animation reminds viewers to be conscious pf scam sites that pose as legitimate businesses with anti-scam messaging.

The second animation emphasises the need to immediately hang up on pension cold-callers.

TPR head of intelligence Mike Broomfield said: “Scammers are always developing new ways to try to get their hands on people’s pensions so everyone needs to be on the look-out for potential traps.

“Calling pension scheme members out of the blue and creating impressive-looking websites to snare potential victims are two methods they use to separate people from their funds.

“We need consumers to help us find and stop scams. We can all use our eyes and ears to spot the scammers before they can profit at our expense.”

The online videos are the latest development in TPR’s pension scam prevention campaign. To do this, the regulator leads Project Bloom, which is working with the government, pensions industry, law enforcement agencies and other regulators.

From July to the beginning of October TPR toured the country meeting with financial advisers to spread awareness about scammers. The regulator spoke to hundreds of advisers at 26 Personal Finance Society events, with many advisers noting that they will be sending new messages on scams to their clients.

In September, TPR noted that a number of suspected scam websites have been referred to TPR over suspicion that they are being made to look like legitimate investment platforms, including holding the Bloom campaign’s anti-scam material without TPR’s consent. In addition to this, some are claiming to be regulated by carrying warning messages designed to prevent people falling victim to scams. These refer to the tax implications over accessing pension pots before the age of 55 and the danger of cold-callers.

Where such websites are located, TPR is demanding that they immediately cease using material owned by the regulator and will investigate with other agencies if further action, such as legal orders are required.

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