Nearly 120 pension schemes have signed up to back a campaign launched by The Pensions Regulator to do more to fight pensions scams.

The Investment Association, the fund managers’ trade body, has urged the Government to include online investment scams in its new Online Harms Bill.

Pensions transfer data showed a high proportion of 'red flags' in October with over 60% of transfers showing signs of possible scams.

Wealth management and Financial Planning firm Quilter has called for new legislation to protect consumers from the dangers of online investment scams.