False social media advertisements – Pension loans (multiple accounts)

The FMA is aware of fake pension loan advertisements circulating on social media targeting New Zealanders nearing retirement age. We recommend extreme caution when engaging with these advertisements.   

These advertisements are published by accounts claiming to be from businesses offering fast and accessible loan solutions and helping clients reach financial objectives simply and effectively. 

Businesses providing lending services to retail clients are obliged to be registered on the Financial Service Providers Register. 

To check whether the business you are dealing with is registered, use this link:

Financial Service Providers Register

The advertisements make claims such as:  

• No credit check of proof of income required; and  
• Loan approval guaranteed.  

Lenders are obliged to conduct an assessment of the affordability of the loan, to make sure you can afford repayments.   

For more information on a lender’s responsibilities, please see:

Commerce Commission - Know what to look for when getting a loan