Article preview: Years of pensions savings could be lost to scammers in the space of 24 hours. According to a new report by the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR), victims of pensions scams can lose 22 years’ worth of their savings in a day. The analysis, which forms part of the regulators’ joint ScamSmart campaign, found it could take a pension saver 22 years to build up a pension pot of £82,000. This is the average size pension pot lost by victims of scams last year. Despite the length of time it takes to accumulate pension savings, it can all be lost to scammers within the space of 24 hours; the time it takes for 24% of those surveyed to make up their minds on a pension offer.
24 hours to lose 22 years’ worth of pensions savings
This 754-word blog post looks at new research from the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR), which found victims of pensions scams can lose 22 years’ worth of their savings in a day. Includes four simple steps to keep your pension savings safe. Written on 9th November 2019.
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