One in five firms aware of staff hit by pension scams - research

'Surprising' only 40% of firms are raising awareness

Kim Kaveh
clock • 3 min read

Just under 20% of firms know of one or more employees that have been victims of a pension scam, a Barnett Waddingham study has found.

However, in the survey of 243 UK organisations conducted in July, 50% of respondents said they knew none, and 31% were unsure. Some 38% of all organisations said they have raised awareness of pension scam to safeguard employees against being scammed; 40% of these said they know at least one of their employees have been victims; 42% said none have been scammed, and 18% were unsure. Of the total pool of respondents, just over a third said they have not raised awareness on scams but are keen to do so just to be safe, while 28% have not run any awareness campaigns and are not looking to d...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

How retirement planning has transformed over the past 50 years

How retirement planning has transformed over the past 50 years

PPI report looks at the move from predictable pensions to personal responsibility

Jonathan Stapleton
clock 21 November 2024 • 3 min read
Act now: Planning for retirement is a concern for today

Act now: Planning for retirement is a concern for today

'Don't wait until tomorrow to think about retirement'

Andrew Tully
clock 20 November 2024 • 4 min read
Government publishes Pensions Investment Review interim report and launches DC and LGPS consultations

Government publishes Pensions Investment Review interim report and launches DC and LGPS consultations

Report published as Reeves delivered inaugural Mansion House speech

Jonathan Stapleton
clock 15 November 2024 • 4 min read