Cost of living exposing savers to more scams, TPR warns

TPR scams strategy

Hope William-Smith
clock • 2 min read

The Pensions Regulator (TPR) is calling on schemes to adopt higher standards of protection for savers’ pots as the ongoing cost of living crisis exposes them to potential new pension scams.

The regulator's new scams strategy - published on Wednesday 3 August - warns savers might be "lured by offers to access their pension savings" earlier than tax limits allow in order to cover essential costs such as bills and rent or mortgage payments. TPR said this could also include "fake investments offering high returns that never materialise". Its three-part plan aims to educate the industry on the threat of scams, prevent practices that could harm retirement outcomes, and fight fraud actively by prevention, disruption and punishment of scam perpetrators. Executive director of ...

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 Regulation

FCA warns on loan notes and mini-bond investment risks

FCA warns on loan notes and mini-bond investment risks

Urges consumers to be wary of high-risk investments

Jenna Brown
clock 20 August 2026 • 2 min read
SVS Securities CEO banned and fined

SVS Securities CEO banned and fined

Demetrios Hadjigeorgiou barred from working in senior management positions

Jenna Brown
clock 20 August 2026 • 2 min read
Suitability rules overhaul: Why firms should engage now, not later

Suitability rules overhaul: Why firms should engage now, not later

'The bigger shift is philosophical, not just structural'

Marjolaine Quirke
clock 19 August 2026 • 3 min read