More than a tenth of pension transfers potential scams, consultancy finds

Pension consultancy Xafinity said it found signs of potential scam activity in 11% of pension transfer requests processed by its Trustee clients. The firm warned consumers were confused about the apparent cross-overs between the regulated and unregulated community, which sometimes meant regulated advisers were recommending a pension wrapper but not the actual investment. Xafinity's pension scam identification unit, which helps Trustees identify potential pension scams connected with member transfers, showed cold-calling has become increasingly common. In particular, it found scammers ...