Gareth Shaw, Which? money expert, said:
“Pension scams are costing retirees millions, so this action must lead to a crackdown on criminals stealing people’s hard earned savings.
“As fraudsters look for new ways to target even the savviest people, the regulator will need to make sure that these new protections are enforced to safeguard people’s money.”
Notes to editors
- Which? has a free guide on how to avoid pensions scams: http://www.which.co.uk/consumer-rights/advice/pension-scams
- In June 2016, Which? research revealed that pension scams are costing retirees millions. The full press release is available here: https://prod-wordpress-press.internal.which.co.uk/whichpressreleases/pension-scams-cost-savers-millions/