The Pensions Regulator (TPR) and police have launched an investigation into a number of pension schemes suspected of being linked to cold-calling, after reports of pension holders being approached by cold callers to persuade them to transfer their funds into poorly run schemes, with the promise of higher returns and cash incentives up front.

Mike Birch, TPR’s director of case management, has urged anyone to contact Action Fraud if they are phoned and offered the chance to transfer their pension, by phoning 0300 123 2040, to help with their investigations.

If you have any queries or concerns regarding your pension, or are considering transferring your pension, you can first visit pensionwise.gov.uk or contact an Independent Financial Advisor.