Fraudulent pension websites are using anti-scam messages and regulatory content to trick consumers into believing their legitimacy, The Pensions Regulator has warned.

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.

TPR’s warning follows government plans to ban pension cold-calling that will protect potential victims from being robbed of their retirement savings. The Department for Work and Pensions has confirmed that it will bring in legislation regarding the ban with tighter rules and restrictions to prevent transfers into scam schemes.

Additionally, TPR is updating its website to clarify to a greater extent and warn that “just because websites talk about scams, this does not mean they are not scam vehicles themselves”.

TPR chief executive Lesley Titcomb said: “These sites are wolves in sheep’s clothing, lying in wait for unsuspecting victims by portraying themselves as being beyond reproach.

“The truth is that this next generation of scam sites poses a real threat to people’s financial futures and should be avoided.

“We welcome the Government’s tough new measures, which will strike a significant blow to pension scammers who devastate people’s lives by duping them out of their life savings. We are working closely with government, enforcement agencies and key financial service bodies to bring scammers to justice and, through our Scorpion campaign, to help the public protect themselves from scams.”

The multi-agency Project Bloom taskforce was set up in 2015 to tackle pension scams. It is led by TPR and includes the Department for Work and Pensions, HM Treasury, the Financial Conduct Authority, HM Revenue and Customs, the Serious Fraud Office, City of London Police, the National Fraud Intelligence Bureau, The Pensions Advisory Service and the National Crime Agency.

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