We share our tips so you can recognise a pension pot scam — plus get a free fiver from our rewards club
NEW pension freedoms are proving very tempting – to crooks.
Since changes to the law in 2015, more than £40million has been fraudulently taken from retirement funds, according to a police report this week.
The relaxed rules mean anyone over 55 can move or access their pension pot.
MPs, forced to act by the scale of the problem, have now launched an inquiry into the effects of the freedoms.
If you are about to access your pension early, or withdraw a lump sum, how can you protect yourself from falling victim to the scammers?
Darren Philp, director of policy at The People’s Pension, says: “The pension freedoms have revolutionised the savings industry.
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