Young and Old People Targeted By Pension Scams

Approximately 26% of adults have received some form of unsolicited contact (such as cold calls) about their pension according to recent research by Phoenix Group. With large numbers of over 75s and over 55s being targeted by investment scams, it is surprising to see so many younger adults also being targeted by pension cold callers. The survey revealed that 24% of 18 to 34 year olds, 25% of 35 - 54 year olds, and 28% of over 55s had been approached by companies looking to gain access to their pensions.

Method of Contact

Those that were targeted were either contacted via telephone (59%), email (25%) or by post (20%), with some respondents claiming they had received more than one type of communication. It has been advised that anyone receiving cold communication regarding pensions contact Action Fraud.

More information on pensions scams and how to deal with unsolicited contact regarding pensions can be found on the This Is Money website.