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Protect your pension pot from scammers

Did you know that in the last year…
  • Around 7.3 million UK adults were targeted by pension scammers.
  • It’s estimated that 2.5 million people were victims of pension scams.

Make sure you don’t get tricked by a scammer
  1. Back away from high pressure sales tactics – this is likely to be a scam
  2. Be wary of anyone offering time-limited offers, promises of high returns or early access to your money before age 55.
  3. Don’t discuss your personal details with anyone cold calling you. Cold calling is illegal.
  4. Always check that anyone you are getting advice from is regulated by the Financial Conduct Authority (FCA).
  5. Remember, if it feels too good to be true it probably is.

Read more about pension scams, what you can do, and links that might be helpful.

If you’re worried you might have been part of a scam you can call and speak to L&G and you can report it to Action Fraud, either online or you can call them on 0300 123 2040.

Go to: Action Fraud

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Defined Benefit

You’re likely to be a member of the DB Section of the Scheme if you worked at the Partnership before 1 April 2015. XPS is the administrator of the DB Section.

The DB Section closed on 1 April 2020 and therefore members who joined the Partnership after 1 April 2015 will only have a Defined Contribution pension pot.

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Defined Contribution

This is where you can find information about your current pension if you’re a Partner now, or were a Partner after 1 April 2015. The Defined Contribution pages are probably the most important for you.

Members who joined the Partnership before 1 April 2015 may also hold DC pension pots with Prudential or Legal and General, as well as a Defined Benefit Pension in the Scheme. We previously referred to this as Hybrid or Dual Benefit. This is because you may have joined the DC Section of the Scheme when you started working at the Partnership and then, after a defined waiting period (which depends on the date you joined the Partnership), you would have become eligible to join the DB Section.

The DB Section closed on 1 April 2020 and therefore members who joined after 1 April 2015 will only have a DC Section pension pot.