Pension freedom scam fears 'coming true'

Freedom and choice in operation for 12 months

clock • 4 min read

People are at risk of being scammed as fraudsters take advantage of the pension freedom reforms, according to Citizens Advice research. Stephanie Baxter looks at the issues

When pension freedom was first announced in 2014 many people in the industry warned there would be a rise in scammers and savers would be poorly equipped to deal with them. These fears are becoming reality, with The Pension Regulator (TPR) revamping its scorpion campaign to warn of the dangers as "thousands" of people are falling for scams. A report from Citizens Advice, Too good to be true, finds people are receiving high levels of unsolicited calls, with 10.9 million having received unsolicited contact about their pension since last April. This includes 2.4 million consumers aged 55...

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