Unfortunately, scammers know this too. Industry experts and consumer organisations are warning that proposed changes to the way pensions may be treated for Inheritance Tax (IHT) from April 2027 could create new opportunities for fraudsters looking to exploit uncertainty.
Why are Inheritance Tax changes attracting scammers?
Whenever tax rules change, criminals are quick to take advantage. They often use news headlines to make their approaches sound believable, claiming you need to act immediately to protect your pension or avoid unnecessary tax.
You may be contacted with offers to transfer your pension, invest in alternative products or release funds before the rules change. The aim is always the same, to persuade you to make quick decisions before you’ve had time to seek advice.
Could you spot a scam?
Modern financial scams are increasingly sophisticated. Fraudsters may use cloned websites, official-looking documents, professional email addresses or even impersonate legitimate financial firms. Some will present themselves as pension experts or inheritance specialists offering exclusive opportunities to reduce tax or protect your family’s inheritance.
If someone contacts you unexpectedly about your pension or asks you to act quickly, it’s worth treating the approach with caution.
Why is trusted advice so valuable?
Many people in retirement are thinking not only about generating an income but also about passing wealth on as tax-efficiently as possible.
These are important decisions that deserve personalised advice, not generic online information or unsolicited recommendations.
Your Finli planner understands your wider financial circumstances, your family priorities and your long-term objectives. They can explain what proposed rule changes may mean for you and help ensure any decisions are based on your individual needs rather than speculation.
How can you stay protected?
Simple precautions remain your best defence:
- Be sceptical of unexpected contact from someone unfamiliar
- Never rush important financial decisions
- Verify anyone offering financial advice through the FCA
- Discuss significant pension or inheritance planning decisions with your Finli planner before taking action.
Protect your wealth and the legacy you want to leave
Changes to pension taxation may create new planning opportunities, but they also create opportunities for scammers. The best way to protect yourself is to take your time, ask questions and rely on trusted, regulated advice.
If you’re reviewing your retirement plans or thinking about how best to pass wealth on to future generations, your Finli planner can help you navigate the changes with confidence while keeping your long-term goals firmly in sight.
The value of investments can go down as well as up, and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. The Financial Conduct Authority does not regulate Will writing, tax and trust advice and certain forms of estate planning.
