Pension scams have cost members £26m in recent years

PMI finds average loss to members from pension scams is £16,500

Jasmine Urquhart
clock • 1 min read
There were 1,595 reported pension scams in England and Wales during 2020 to 2022, data from the National Fraud Intelligence Bureau shows
Image:

There were 1,595 reported pension scams in England and Wales during 2020 to 2022, data from the National Fraud Intelligence Bureau shows

The cost of pension scams over the last two years has cost members more than £26.4m, the Pensions Management Institute (PMI) has found. Looking at data from the National Fraud Intelligence Burea...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

Jasmine Urquhart
Author spotlight

Jasmine Urquhart

Senior Correspondent at Professional Pensions

More on Admin / Technology

PCS union members working at MyCSP announce further strike action

PCS union members working at MyCSP announce further strike action

Union announces workers will go on strike for six weeks from 29 September to 7 November

Martin Richmond
clock 15 September 2025 • 1 min read
Highest rated workplace pension apps revealed

Highest rated workplace pension apps revealed

Research shows pensions app market is in ‘transition’ but reflects a ‘competitive’ landscape

Martin Richmond
clock 12 September 2025 • 3 min read
Using AI to ease trustee burnout and build better member conversations

Using AI to ease trustee burnout and build better member conversations

Stu Breyer sets out a range of AI use cases for pension scheme trustees

Stu Breyer
clock 12 September 2025 • 4 min read
Trustpilot