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 removes regulatory permissions from advice firm over breaches

FCA removes regulatory permissions from advice firm over breaches

Ups assets restriction and notes unpaid FOS award

Jen Frost
clock 22 December 2025 • 2 min read
 FCA chief: No allegations of Budget leak market abuse so far

FCA chief: No allegations of Budget leak market abuse so far

Told MPs on the Treasury Committee the leak caused serious concern

Alex Sebastian
clock 16 December 2025 • 3 min read
FCA's non-financial misconduct rules 'opaque' over social media activity

FCA's non-financial misconduct rules 'opaque' over social media activity

Lack of definitions and case studies

Cristian Angeloni
clock 16 December 2025 • 2 min read