Charlotte Jackson, Head of Pensions Guidance Services at the Single Financial Guidance Body commented:

“Pension scams can be devastating for anyone that falls victim to one. In many cases a lifetime’s savings can be lost in moments.

Evidence has shown that prevention is the best defence against pension scams. While our research says eight scam calls take place every second, the good news for consumers is that the pensions cold-calling ban introduced last month means no legitimate provider will contact you in this way. Reject any unsolicited calls, emails or knocks on your door. Check the FCA register for regulated companies, or the warning list. If you’re thinking about an opportunity, seek independent financial advice from an FCA regulated firm.

Anyone that has any concerns about pension scams should contact The Pensions Advisory Service for free on 0800 011 3797, or for more information visit https://www.fca.org.uk/scamsmart