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

AI in pensions admin: Start with members, not technology

AI in pensions admin: Start with members, not technology

Isio's Girish Menezes says AI’s true value lies in helping schemes deliver for members at the moments that matter

Girish Menezes
clock 16 January 2026 • 6 min read
Technology, data and people will be at 'heart' of pension administration by 2030

Technology, data and people will be at 'heart' of pension administration by 2030

LCP says advances in technology will ‘revolutionise’ member engagement

Martin Richmond
clock 14 January 2026 • 2 min read
Speakers announced for PP Admin and Data Forum

Speakers announced for PP Admin and Data Forum

Speakers will cover sessions on regulatory perspectives, reshaping the market, and customer service

Holly Roach
clock 14 January 2026 • 1 min read
Trustpilot