Number of unsolicited pension approaches drops 6.5m in five years

Looking at data from the Financial Conduct Authority's Financial Lives survey, the consultancy found 7% of adults, equivalent to 3.7 million people, received approaches about pension scams in 2022, compared to 20% (10.2 million) in 2017. Over the same period, the number of those aged between 55 and 64 received fewer scam approaches, from 27% in 2017 to 13% in 2022. There was also a reduction in scammers approaching members claiming to be the government offering retirement planning advice, from 14% in 2017 to 3% last year. Additionally, there were fewer offers of free pension review...