Government warns of pension scams; how pensioners can protect themselves

The government has alerted pensioners about frauds that prey on their hard-earned retirement funds. The Central Pension Accounting Office (CPAO), a government agency in charge of overseeing central government pensions, has alerted pensioners on the latest fraud.

With the increasing digitisation of financial services, online scams have become a major concern for all demographics. Pensioners, particularly those less familiar with online technology, are seen as easy prey. Scammers often exploit their trust, limited technical knowledge, and potential loneliness to steal personal information or trick them into transferring money. These scams can cause significant financial hardship for retirees.

CPAO said, “It has come to our notice that fraudsters are impersonating officials from the Central Pension Accounting Office (CPAO), Bhikaji Cama Place, New Delhi, and contacting pensioners. These scammers are sending forms via WhatsApp/eMail/SMS, claiming that failure to fill them out will result in pension payments being stopped next month.”

We urge all pensioners to be cautious and not fall victim to these scams. Do not share your personal information, including your PPO Number, Date of Birth, and Bank Account details, with anyone. Please note that the CPAO, banks, and other government agencies will never request such information from pensioners, stated CPAO.

Verify the source: Always contact the issuing agency or bank directly to verify any phone calls or emails claiming to be from them. Never call phone numbers provided in suspicious emails or messages.

Beware of false 'urgency': Scammers often create a sense of urgency to pressure pensioners into making quick decisions. Remain calm, verify information independently, and consult a trusted family member or financial advisor before taking action.

Report suspicious activity: If you suspect a scam attempt, report it to the CPAO, bank, and local law enforcement authorities.

CPAO also requested CPPCs to take necessary action at their end to save pensioners from such fraudsters and their forgery activitie