Pension scams

The amount of savings lost to pension fraudsters in the wake of Freedom and Choice is £2.7m higher than previously thought, new data reveals.

Plans to scrap mandatory advice for expats wanting to transfer their retirement pots overseas could open the door to scammers, it has been warned.

Pension scams have been around a long time but, since the new pensions flexibilities were introduced, they are becoming even more prevalent. Alice Honeywill and Elena O'Leary explain how to avoid scams.

The Pensions Ombudsman (PO) Service has confirmed it will participate in appeals against its own determinations as it seeks to take a more interventionist approach.

TPAS chief executive Michelle Cracknell talks to Professional Pensions about what more the industry can do to crack down on pension scams.

Freedom and choice has helped fuel an 18% increase in complaints to the Pensions Ombudsman (PO) over the last year, according to its annual report and accounts.

An anti-scam campaign will run for the next four weeks to help improve awareness of fraudsters' common traits, following concerns they are increasingly targeting pension fund members.

The Pensions Ombudsman Anthony Arter has confirmed he will defend against appeals if he believes it is in the public interest.

Scammers are using Brexit concerns to try to con people into transferring their pension savings to suspicious overseas schemes, according to Phoenix Group.

The Financial Ombudsman Service has received 475 complaints relating to freedom and choice since last April as it reports an increase in total pension complaints.