Alder Hey nurse lost life savings to text scam

A nurse has spoken of the devastating impact of losing her entire retirement savings to fraudsters.

Pauline Padden, a children’s critical care nurse at Alder Hey Children's Hospital in Liverpool, was tricked into handing over £45,000 to pension scammers in 2013.

The 60-year-old was one of 245 victims conned out of a total of more than £13.5m in pension savings.

“I'm never going to get that back again," Ms Padden said. "I'd never get £45,000 together. I'm not going to be alive long enough to do that."

She warned: "It is a very real crime. There are victims and we do pay the price".

Ms Padden was looking after her terminally ill mother in the last weeks of her life when she was contacted out of the blue.

She said the text message asked if she had any "unused pensions or frozen pensions" that could be released into a better investment, and told her she could receive a gift for doing so.

But Ms Padden never received a gift and was later informed the companies she had invested in were part of a sophisticated scam.

Recent figures show more than £17m was lost to pension fraud in 2023 and The Pensions Regulator (TPR) and the Pension Scams Action Group (PSAG) are taking action to prevent more people falling victim.

Ms Padden said others needed to "stop and think" before making any decisions about their pension, adding: “Give it time, don’t rush into it.

"Take a step back and take a look at the great big picture and say, 'Is it genuine or is it too good to be true?'."

A new case report from TPR, tells for the first time the full story behind its investigation, which led to the conviction of fraudsters Alan Barratt and Susan Dalton in April 2022.

The report traces how a single whistleblower report led to the pair being sentenced to five years and seven months, and four years and eight months, respectively.

According to Action Fraud, there were 559 reports of pension fraud in total and £17,750,635 lost in 2023, with an average loss of £46,959 per person.

In Merseyside, there were £150,524 losses, £726,170 in Greater Manchester and £501,454 in Lancashire.

Gaucho Rasmussen, TPR’s executive director of regulatory compliance, said: "Pauline’s story starkly demonstrates how ruthlessly scammers will exploit victims’ vulnerability to make their ill-gotten gains.

"We urge pension savers to protect themselves by knowing the warning signs and how to avoid and report a scam or fraud. The message is clear - stop, think and check who you are dealing with."

The Pensions Regulator (TPR) has offered the following advice:

• 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.

If you suspect a scam, always report it to Action Fraud online or by calling 0300 123 2040.

Listen to the best of BBC Radio Merseyside on Sounds and follow BBC Merseyside on Facebook, X, and Instagram. You can also send story ideas to [email protected] and via Whatsapp to 0808 100 2230.