Pension scam victims could lose an average of 22 years of savings in 24 hours, according to research by the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR).
With the law not adequately protecting savers from scams, the pensions industry must be more direct with members about the risks of transfers, says Margaret Snowdon.
More than 8,000 investment fraud reports have been made so far this year, more than double the amount in the same period last year, a Freedom of Information request has revealed.
Five million pension savers could be putting their retirement pots at risk to scammers, The Pensions Regulator (TPR) and the Financial Conduct Authority (FCA) warn as part of their latest ScamSmart campaign.
While Amber Rudd will remain in her job as secretary of state for work and pensions, the rest of Boris Johnson's cabinet has experienced a major shake-up.
There has been a significant increase in the number of 'red flags' reported on pension transfers in the last 12 months by the XPS Pensions Group, which it said leaves millions of pounds at risk.
The Pension Scams Industry Group (PSIG) has updated its voluntary code of practice to reflect regulatory and legislative changes that have affected the industry over the last year.
Trustees fear their members are not equipped to deal with the risks they face when accessing their pension and worry those nearing retirement will face predatory attention from scammers, research by Wealth at Work reveals.
The Financial Conduct Authority (FCA) has set priorities for the coming year for its joint action with The Pensions Regulator (TPR), including reviewing whether pension schemes are providing sound information to consumers.
Some 52% of red flags raised by schemes on suspected scam pension transfers involve advisers or unregulated introducers, a report by the Pension Scams Industry Group (PSIG) has claimed.
The Financial Conduct Authority (FCA) has warned the public to be vigilant of investment scams as Action Fraud reveals more than £197m was lost to scams in 2018.
The sector is responding to changes including the GMP equalisation ruling, data protection and increasing demand for administration services. Holly Roach looks at what this year has in store.
Pension cold-callers will face tougher sanctions from today as a long-awaited ban poses fines of up to £500,000 for "callous crooks" attempting to scam savers.
The 'ScamSmart' campaign is gaining traction, with a five-fold increase in visits to the official website and thousands of savers a day warned about unauthorised firms operating in the area.
Two men who put pension savers' money into "exotic, high risk and suspected scam investments" have been banned from being trustees by The Pensions Regulator (TPR).
This week's top stories included the High Court ruling that guaranteed minimum pensions must be equalised, and Ford offering partial defined benefit transfers to members.
More than half of savers are worried about the government's delay to initiate a ban on cold calling, Aegon says as its research also reveals 91% have received them.
The government's National Fraud Initiative (NFI) has saved £144.8m over the past two years by helping detect and prevent occupational pension fraud and overpayments.
The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.
The Pensions Regulator (TPR) and Financial Conduct Authority (FCA) have launched a refreshed ScamSmart campaign to warn savers about unsolicited pension communications.
Edward Brown says the Pensions Ombudsman's maladministration ruling against the Northumbria Police Authority for its handling of a transfer out of the Police Pension Scheme is an 'uncomfortable' decision.
TPO finds Northumbria Police Authority guilty of maladministration; Gives 'new hope' to scam victims
A ruling by The Pensions Ombudsman (TPO) could mean past victims get redress if it finds trustees failed to alert members to pension transfer risks or did not perform mandatory checks.
Margaret Snowdon says there are three ways to protect members from making bad decisions
Scammers may be trying to steal savings from workers by falsely claiming to be calling from The Pensions Regulator (TPR), according to a warning from the watchdog.