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May 07 2018

Almost one in 10 over-55s believe they have been targeted by pension scammers

Since the launch of the pension freedoms three years ago, almost one in 10 over-55s fear they have been targeted by pension scammers, a new survey by Prudential has revealed.

The survey found that 9% of the over-55s said they had been approached about their pensions which they now believe were scammers.

Only 18% of those approached had reported their fears to the authorities.

Approaches by suspected scammers involved offers to unlock pensions funds or access money earlier than usual (47% of those surveyed) and 44% of approaches involved transferring pensions.

Good advice to follow is that if it sounds too good to be true, it usually is. And it’s important to report suspected scams to Action Fraud.

1,000 people aged 55 and over participated in the survey all across the UK.

Find out more: https://uk.finance.yahoo.com/news/nearly-one-10-over-55s-230100864.html