One quarter of savers at risk of 'opportunistic' pension scams

25% of pension transfer assessments in Q1 2023 raised red flag

Martin Richmond
clock • 4 min read

About a quarter of savers could be at risk of falling for a potential pensions scam, industry research has found.

The research, conducted by guidance website Help & Advice, analysed 1562 assessments undertaken during January to March this year, which used the website's pension scam assessment tool to enable savers considering a pension transfer to ascertain the possibility as to whether the transfer could represent a scam. The data found across the assessments completed, the average likelihood of a pension transfer being a scam was 25% as a result of a quarter of the cases which raised red flag scam warnings, which warranted further investigation to ensure it was not a scam. Nearly one in five (1...

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