Pension scams

Pension savers are failing to spot the most prevalent signs of scams, including early access and free advice, PensionBee research finds.

Savers should not rush into making rash changes to their pensions, the government has warned as the Covid-19 crisis continues to hit financial markets.

Trustees face increasingly difficult issues around handling suspected pension scams. Matthew Swynnerton looks at how the Pension Schemes Bill might help.

The industry needs more powers to protect savers by stopping scams in their tracks, but a network to share intel can help, says Margaret Snowdon.

The industry is urging the government to prioritise combatting pension scams in 2020, according to research by the Society of Pension Professionals (SPP).

Pension scam victims could lose an average of 22 years of savings in 24 hours, according to research by the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR).

With the law not adequately protecting savers from scams, the pensions industry must be more direct with members about the risks of transfers, says Margaret Snowdon.

More than 8,000 investment fraud reports have been made so far this year, more than double the amount in the same period last year, a Freedom of Information request has revealed.

Five million pension savers could be putting their retirement pots at risk to scammers, The Pensions Regulator (TPR) and the Financial Conduct Authority (FCA) warn as part of their latest ScamSmart campaign.

While Amber Rudd will remain in her job as secretary of state for work and pensions, the rest of Boris Johnson's cabinet has experienced a major shake-up.