Pension scams are on the rise and fraudsters will do whatever it takes to get their hands on your savings.
Scammers can be knowledgeable with credible testimonials and professional materials that are hard to distinguish from the real things.
If you transfer into a scam you run a real risk of losing a significant amount, if not all of your pension savings, as well as high commission or arrangement fees.
Accessing your pension early is only allowed under very special circumstances such as ill health. If you transfer and access your pension before age 55, you will face significant tax penalties of up to 55% of the value of your pension.
This means you may end up receiving very little or none of your original investment and you could end up owing HMRC money.
The average victim loses £91,000k.
To find out more about pension fraud and what to do if you think you have been targeted visit the Pensions Regulator's website.
Deferred members can now explore the option of transferring their pension out of the NESPF to an alternative scheme with our My Pension tool.
The NESPF office will be closed from 4pm on Thursday 1 April until Monday 5 April.
How much you pay into your pension depends on exactly how much you earn.
Retirement might have been a long-anticipated event in your life but as your last working day draws closer, the actual process of claiming your pension may seem daunting.