Pension scheme members are three times more likely to be approached about accessing their pots since the Budget freedoms were announced, according to research.
As many as 45% of savers have been contacted about unlocking their pensions either through unsolicited calls, texts or emails, the study from Phoenix Group found. This comes after the Pensions Ombudsman experienced a 66% surge in the number of complaints related to pension scams over a four-month period from July last year. Phoenix Group warned that 38% of people would use an online source for a free pension review, potentially exposing them to scammers. It also found that one in ten 18 to 34-year-olds had released some or all of their pension as cash after being contacted, facing...
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