Men at greater risk of pension transfer fraud, XPS report suggests

Higher value pension transfers a target

Julia Bahr
clock • 2 min read

Men are almost twice as likely to be at serious risk of pension transfer fraud as women, according to an XPS Pensions Group report.

One-in-ten (11%) pension transfers for men were likely to raise a ‘red flag' - indicating a potential pension scam - compared to 6% of transfers for women throughout the course of 2021, according to the group's scam protection service. Higher value pensions are much more likely to be targeted, with the average transfer value clocking in at £211,000 across 2021. The average size of a transfer demonstrating the most serious warning signs of a scam was £279,000. XPS' scam protection service, XPS Scam Forensics, is an interactive tool that allows trustees and employers to analyse trends i...

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