Men at greater risk of pension transfer fraud, XPS report suggests

Higher value pension transfers a target

Julia Bahr
clock • 2 min read

Men are almost twice as likely to be at serious risk of pension transfer fraud as women, according to an XPS Pensions Group report.

One-in-ten (11%) pension transfers for men were likely to raise a ‘red flag' - indicating a potential pension scam - compared to 6% of transfers for women throughout the course of 2021, according to the group's scam protection service. Higher value pensions are much more likely to be targeted, with the average transfer value clocking in at £211,000 across 2021. The average size of a transfer demonstrating the most serious warning signs of a scam was £279,000. XPS' scam protection service, XPS Scam Forensics, is an interactive tool that allows trustees and employers to analyse trends i...

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

King's Speech has limited impact on pensions

King's Speech has limited impact on pensions

Pensions UK says there may be pension implications from other aspects of the legislative programme

Jonathan Stapleton
clock 13 May 2026 • 1 min read
Pensions and divorce: Where advisers can add the most value

Pensions and divorce: Where advisers can add the most value

'A pension is not simply another line on a balance sheet'

Tim Latham
clock 12 May 2026 • 4 min read
'A paralysis of the UK pension system' - The reality of transfer delays

'A paralysis of the UK pension system' - The reality of transfer delays

Provider ‘stalling’ causing tense SASS client case

Isabel Baxter
clock 12 May 2026 • 6 min read