SIPP accounts are currently offered on a Beta basis and are available only to a limited number of users for testing purposes. During this period, features, functionality, and availability may be subject to change or withdrawal without notice.
We will announce when SIPP accounts become available to eligible UK-resident clients of Trading 212 UK Ltd.
As an execution-only brokerage, we provide you with the platform to manage your Self-Invested Personal Pension (SIPP).
We do not provide advice, and the decision to invest or transfer funds is entirely yours. It is Important that you are aware of the persistent threat of pension scams, which can lead to the loss of your retirement savings.
How to spot a pension scam?
Scammers are sophisticated, but their tactics often follow a pattern. Be extremely cautious and look out for these common warning signs:
- High Pressure: Being rushed to make a decision, often with "time-limited offers" or promises of immediate, guaranteed returns.
- Unexpected Contact: Scams often start with an unexpected phone call (cold call), text message, or email.
- "Free" Pension Review: Offers of a "free pension review" by someone you've never dealt with before. Only regulated financial advisers or certain institutions can provide legitimate pension advice.
- Unusual Investments: Pressure to move your pension into unique or exotic investments like overseas property, forestry, or hotels, which are often unregulated and high-risk.
- Guaranteed Returns: Scammers frequently promise implausibly high, guaranteed returns on investments. All investments carry risk, and if it sounds too good to be true, it almost certainly is.
- Accessing Funds Early: Offers to help you access your pension funds before age 55 (unless you have a qualifying serious health condition) are almost always illegal scams that could result in significant tax penalties.
What you should do?
If you are approached about transferring your SIPP or making an investment, follow these non-advised, execution-only steps:
- Stop: Do not rush into any decision. Reject high-pressure sales tactics.
- Check: Check that the firm you are dealing with is registered with the Financial Conduct Authority (FCA). If they are not on the FCA Register, they are operating illegally.
- Reject: Hang up on cold calls. Since January 2019, there has been a ban on cold calling about pensions.1 Any unexpected call is likely a scam attempt.
- Verify: Independently verify any contact details. Do not use the phone number or website provided in the suspicious email or call.
❗️ Important
If you suspect you have been targeted by a pension scam or want more detailed information on protection:
- Financial Conduct Authority (FCA): Learn more about the most recent scam tactics and how to check if a firm is legitimate.
- MoneyHelper (part of the Money and Pensions Service): Get practical guidance on spotting a scam and what to do next.