FCA, TPR, Maps warn again on scams and urge against pension panic

Scam-fighting bodies tell savers to seek guidance for protection

Julia Bahr
clock • 3 min read

The Financial Conduct Authority (FCA), The Pensions Regulator (TPR) and the Money and Pensions (Maps) have teamed up to issue a warning over the potential increased risk from scammers seeking to cash in on economic uncertainty.

The regulators and trade body said recent headlines over squeezed household finances would leave savers more vulnerable to scammers. The FCA, TPR and the Maps are all members of the Pension Scams Action Group (PSAG) — a multi-agency taskforce dedicated to protecting savers from scams. They said they were concerned that fears over the economy, such as recent movement in gilt yields, may prompt savers to make rushed decisions about their finances. While the three organisations had not yet seen evidence of an increase in pension scams, they said action was needed now given concern ove...

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