XPS Pensions Group has uncovered a surge in the number of ‘red flags’ being reported on pension transfers, indicating warning signs of scam activity, from 13% in June 2018 to 34% in June 2019.

New research from Succession Wealth, the wealth manager and Financial Planner, has uncovered that 1 in 10 pension savers aged 50 and over has been targeted by pension fraudsters.

Organised crime groups led by married couples or families are running pension scams worth millions of pounds, according to The Pensions Regulator.

Crooks will always target pensions - that's a given - but that should not deter us from applauding the significant progress made this week in tackling scammers with a new law banning pension cold calling.