Pension scam awareness campaigns 'failing to reach' retirees

Carmen Reichman
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A persistent lack of awareness among consumers around spotting pension scams and finding financial advice has raised concerns about whether consumer education campaigns are working.

A survey found more than a third of people over the age of 55 living in the South of England thought they would not be able to tell the difference between a pension scam and a genuine offer from a regulated company. At the same time more than half of these people felt they had previously been contacted about a potential scam, while a third felt cold-calls about pension opportunities had increased since the government's pension reforms came into effect in April. Pension freedom reforms, now effective, mean savers aged 55 and over have complete access to their defined contribution pensi...

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