Pension scam victims 'lose £91,000 each'

Financial regulators renew anti-pensions scam campaign

James Phillips
clock • 2 min read

The Pensions Regulator (TPR) and Financial Conduct Authority (FCA) have launched a refreshed ScamSmart campaign to warn savers about unsolicited pension communications.

The advertising campaign comes after updated figures revealed savers lost around £91,000 each on average from scammers promising lucrative returns from fraudulent schemes, with a third unsure of how to check whether the person they are speaking to is legitimate. The regulators are recommending four steps to savers when receiving unsolicited messages - either by phone, post, email or social media - to help recognise when they are at risk of being scammed. These are: immediately rejecting unexpected pension offers; check on the person making contact with the FCA; take time and do not succu...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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