Warnings from pension companies to savers who are looking to transfer their pension somewhere that does not look right are often ignored, says Phoenix Group.
In research conducted in light of Pensions Awareness Day today (15 September) the group found savers are still too vulnerable to scams and are not heeding warnings from pension providers. Phoenix Group risk and financial crime manager and Pension Scams Industry Group deputy chairman Tommy Burns said: "Worryingly, financial fraud is growing, partly as a result of Covid-19, with scammers taking advantage of the upheaval and the additional financial pressures that some people are facing. "Pension scams can destroy people's lives and rob hard-working pension scheme members of the retireme...
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