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...

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 Pensions

Triple lock played 'important role' but it would 'always need to end'

Triple lock played 'important role' but it would 'always need to end'

Pensions industry reacts to triple lock change

Holly Roach
clock 30 September 2026 • 4 min read
Triple lock changes welcome but 'cannot solve' national care problem

Triple lock changes welcome but 'cannot solve' national care problem

‘The sooner the government comes clean on these plans the better’

Sophia Panayi
clock 30 September 2026 • 6 min read
'The interesting thing about Burnham's triple-lock plan isn't the triple lock'

'The interesting thing about Burnham's triple-lock plan isn't the triple lock'

'Look past the mechanism and something more interesting is happening'

Tony Müdd
clock 30 September 2026 • 5 min read