March 28, 2024

After years of saving for retirement, the last thing you want is to lose your money to pension fraud. Yet scammers duped savers out £2.2 million in the first five months of 2021, with scams becoming more sophisticated and harder to spot during the pandemic.

The average loss was £50,949, according to complaints filed with Action Fraud, which is more than double the 2020 figure (£23,689). Pension scams have sadly become increasingly common, with fraudsters seeking out every opportunity to rob savers of their pension savings.

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