The plight of a much-loved EastEnders character targeted by a cruel pension scam has sparked a fresh warning for savers to stay vigilant, alongside a fresh call for the industry to step-up in protecting them.
In the hit continuing drama storyline, popular character Jean Slater, 61, was persuaded to transfer her pension into a high return investment after participating in a free pension review.
In scenes that aired last night, it later transpired that Jean had been scammed and she now faces the heartbreaking consequences of her financial loss.
The Pensions Regulator (TPR), alongside other organisations, worked with EastEnders to ensure their viewers were given a powerful insight into the duplicitous tactics fraudsters use to exploit the vulnerable.
Real-world insight drives storyline
TPR, alongside Stop_Scams_UK, and independent adviser, Nick Stapleton, provided behind the scenes guidance with the show's scriptwriters and researchers, sharing insights into the latest tactics used by scammers and the far-reaching financial and emotional toll on victims.
Gaucho Rasmussen, Executive Director of Regulatory Compliance at TPR, said: "We commend the BBC for tackling such an important and complex issue in this storyline. By bringing Jean’s experience to prime-time television, millions of viewers will become more aware of pension scams, potentially empowering them to recognise and resist similar approaches from fraudsters.
"Sadly, our work continues to uncover the real-life damage caused by pension scams. But while the threat of scams and fraud is ever-evolving, so is our response.”
This storyline is not just compelling television – it’s a reminder of the real-world threats to pension security. TPR recently launched a video campaign featuring critical care nurse, Pauline Padden, one of 245 victims in a £13.5 million TPR prosecution case.
Pauline, 60, was targeted at a vulnerable time in her life. Though many remain silent about such experiences, Pauline has bravely shared her story to help warn others.
Call to action
Gaucho added: “To provide the valuable intelligence we and our Pension Scams Action Group (PSAG) partners need in the fight against fraudsters, we urge the pensions industry to report scams and suspicions of scams to Action Fraud. It is our hope that viewers of the EastEnders’ storyline will be prompted to report any suspicious activity to Action Fraud too. Every report counts, helping to enhance our national intelligence picture.”
Notes for editors
- The Pension Scams Action Group (PSAG) is a multi-agency taskforce led by TPR that brings together law enforcement, government bodies and industry experts to combat pension scams and fraud. TPR is also a partner in the National Fraud Campaign, Stop! Think Fraud, which provides individuals and businesses with advice on how to protect themselves from fraud – whether online, via email, text, phone, post, or in person.
- Victim Case Study: Watch Pauline share her story.
- Pensions Scams Action Group (PSAG): Read about the taskforce working together to tackle pension fraud.
- ScamSmart: Check the Financial Conduct Authority’s (FCA) warning list of unauthorised firms and download handy prevention materials for your members.
- Action Fraud: Learn how reporting is the best defence against pension scams.
Pension schemes should report any knowledge or suspicions of pension scams and those involved. This allows authorities to investigate and prosecute scammers. It also allows law and policy makers to get a clearer picture of the degree of risk that pension scams are posing at any one time.
You should report if:- you believe a scam has already happened
- a red flag is raised when making a transfer
- you suspect that a pension scam is taking place or are suspicious of those involved: this may be because of other risks you have noticed such as amber flags in a transfer request
- The Pensions Regulator is the regulator of work-based pension schemes in the UK. Its statutory objectives are to:
- protect members’ benefits
- reduce the risk of calls on the Pension Protection Fund (PPF)
- promote, and to improve understanding of, the good administration of work-based pension schemes
- maximise employer compliance with automatic enrolment duties
- minimise any adverse impact on the sustainable growth of an employer (in relation to the exercise of the regulator’s functions under Part 3 of the Pensions Act 2004 only)
How to protect yourself
- Stop and think: reject unexpected offers and avoid hasty decisions.
- If you get an unexpected call, text or email about your pension, it is safest to ignore it.
- Always check who you are dealing with on the Financial Conduct Authority’s register of authorised firms and advisers.
- For more information on the common warning signs of scams and how to protect you, your family and friends, visit the StopThinkFraud website.
- For free, impartial guidance about your pension, contact MoneyHelper.
What to do if you think you’ve been scammed
- If you suspect a scam, always report it to Action Fraud online, or by calling 0300 123 2040. In Scotland, report to Police by calling 101.
Press contacts
Out of hours
This is for journalists only with a media enquiry. The below number will divert to our on call media officer.pressoffice@tpr.gov.uk
01273 648496
