Insolvency Service issues warning after £202m of pension savings 'misused'

The government agency has warned savers to be particularly wary of cold calling, offers of free pension reviews and promises of high rates of return. Since 2015, the service has applied to the courts to wind up 24 companies that it said have carried out a form of pension misuse, including convincing people to access their pension savings and invest in unregulated schemes, as well as pension trustees not carrying out their duties properly. Across the 24 companies, it found an estimated 3,750 victims, with £202m worth of contributions. The service - connected to the Department for Bu...