TPAS warns on 'sophisticated' pension fraud after 500 enquiries

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The Pensions Advisory Service (TPAS) has fielded 500 pension fraud liberation calls since the start of the year and released a video warning on the dangers of accessing a pension pot early.

TPAS technical specialist Alex Leahy said althought it might seem not like a vast number the amount involved could reach millions of pounds. Leahy explained that pension fraud was becoming more sophisticated and professional in the digital age, with scammers using the internet to send out "hundreds of thousands" of spam emails. "Historically, when this sort of activity came to light about ten or 15 years ago, they were relatively unsophisticated and were probably passed around by word of mouth," Leahy said. "These days the publicity is a lot more and internet pages can look quite l...

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