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    £23m rip-off by crooks in pension scams.

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    papa_umau
    papa_umau
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    £23m rip-off by crooks in pension scams.

    Post by papa_umau on Tue 25 Sep 2018, 10:57 am

    Alarm over £23m rip-off by crooks in pension scams.

    WORK and Pensions Secretary Esther McVey will today warn savers: “Don’t let a criminal enjoy your retirement” to highlight the growing danger of ruthless pensions scammers.

    Fraudsters posing as pension advisers and providers stole an average £91,000 per person from 253 known victims last year.

    The £23million fraud is just the tip of the iceberg as only a minority of cases is reported.

    Nearly a third of 45 to 55-year-olds said they would not know how to check they were dealing with a genuine adviser, a YouGov survey of 1,000 people concluded.

    One in eight said they would trust someone who offered them a “free pension review” – a common tactic used by criminals to obtain people’s details and steal the life savings they had expected to fund their retirement.

    The Financial Conduct Authority and The Pensions Regulator are today launching a joint advertising campaign across television, radio and social media to alert the public to the risk.

    Read the rest of this report from The Daily Express. HERE




    At least the FCA are on the job here and we will probably find out more after they have finished their examinations of the problem.


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    zathrus
    zathrus
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    Re: £23m rip-off by crooks in pension scams.

    Post by zathrus on Thu 27 Sep 2018, 11:02 am

    I am close to retiral, but as I am self employed I can virtually decide when I need to start the proceedings.

    Thanks for the reminder Paps.
    papa_umau
    papa_umau
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    Re: £23m rip-off by crooks in pension scams.

    Post by papa_umau on Fri 28 Sep 2018, 11:11 am

    My pleasure Zath'.

    We all need to be aware when we should or want to retire and how to go about it in the best way possible.


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    Angie baby
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    Re: £23m rip-off by crooks in pension scams.

    Post by Angie baby on Sat 29 Sep 2018, 11:27 am

    Have to agree.

    Although I am not yet near to retirement age I still keep my eye on the investment markets.

    With this tip I can be even more careful about how I take out a second pension.
    papa_umau
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    Re: £23m rip-off by crooks in pension scams.

    Post by papa_umau on Sun 30 Sep 2018, 11:27 am

    Again, my pleasure Angie.


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    Re: £23m rip-off by crooks in pension scams.

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