Pension scam victims lose average of 22 years of savings in 24 hours

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Pension scam victims lose average of 22 years of savings in 24 hours

Research from the UK's Financial Conduct Authority (FCA) and TPR has revealed the average amount lost to pension scammers in 2018 was £82,000--a sum that takes the average earner 22 years to accrue. The report also found that nearly two-thirds (63%) of people would trust someone offering pension "advice" almost out of the blue. Worryingly, 1 in 4 people would take 24 hours or less to decide on a pension offer presented to them. Tom Selby, senior analyst at AJ Bell, commented: "Hubris an...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.