A Financial Planning firm director fears genuine entrepreneurial investors maybe put off from using flexible pensions such as SSAS, following signals of a scam crackdown.

The post-freedoms pension fraud spike was “worse than previously feared”, new analysis indicates.

A watchdog has urged financial institutes and charities to do more to protect the potential victims of scams such as dementia sufferers and other vulnerable people.

A pension consultancy firm says it has found signs of potential scam activity in 11% of pension transfer requests.