Phoenix 'concerned' about volume and types of new scams

Customer reported visit to home

Tom Ellis
clock • 2 min read

Pension group Phoenix has said more of its customers are reporting approaches from unregulated companies after obtaining personal information or details about their pensions.

The group, which owns brands Axa, SunLife and Abbey Life, said it was not only the volume of approaches that was concerning, but the type of data being requested as well. After conducting research among 2,000 people, it said one-in-ten consumers had provided their national insurance number to organisations they did not know and two-in-ten had given away their passport number. One of Phoenix' customers even reported a cold caller visiting their home to get copies of their driving license, national insurance numbers, bank statement and pension paperwork. Power for fraudsters The gr...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Why documentation is king in the world of SSAS

Why documentation is king in the world of SSAS

'SSAS documentation - it isn't just best practice or a fiduciary requirement'

Caitlin Southall
clock 04 July 2025 • 4 min read
Steve Webb: Sceptical advisers should not give up on pensions dashboard

Steve Webb: Sceptical advisers should not give up on pensions dashboard

‘A big mistake to underestimate the impact it will have’

Jenna Brown
clock 03 July 2025 • 3 min read
What role can advisers play in closing the gender pension gap?

What role can advisers play in closing the gender pension gap?

Advisers are uniquely placed to influence the gender pension gap

Olivia Perry
clock 02 July 2025 • 7 min read