Which? responds to the introduction of new measures to protect pension savers from transfer scams

Gareth Shaw, Which? Head of Money said:

“Pension scams are becoming increasingly sophisticated and can have devastating consequences, leaving savers at risk of seeing their entire retirement income disappearing in an instant, so it’s promising to see new measures to give pension schemes greater responsibility and powers to protect savers from fraudsters.

“These crimes often start online so action is also needed when it comes to the online platforms that have failed to prevent fraudsters from exploiting their systems. They must be given a legal responsibility, through the Online Safety Bill, to identify, remove and prevent fake and fraudulent content on their sites.”