Pension scams: Britons warned over criminals offering inheritance tax loopholes
Summary
Criminals are tricking people with false pension schemes that claim to help avoid new UK inheritance tax rules starting in April 2027. Experts warn that scammers are using confusion and pressure to steal money from pension holders, and people should be cautious and seek advice before making any pension changes.Key Facts
- From April 2027, money left in most private and workplace pensions after death will be subject to inheritance tax in the UK.
- Scammers offer fake overseas pension schemes that promise to avoid these new tax rules.
- These scams often start with unexpected calls, emails, or messages.
- Common scam terms include “pension liberation,” “loophole,” “cashback,” and “high returns.”
- Cold calling about pensions is illegal, so unsolicited pension offers should be treated suspiciously.
- Scammers coach victims to answer questions from legitimate pension providers to avoid detection.
- People should check if companies are authorized using the Financial Conduct Authority’s online tool and consult regulated advisers.
- If someone suspects a scam, they should report it to Report Fraud.
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