The PFS has called for a “wider united campaign to protect the public from the scourge of scammers.”

MPs on the influential Work and Pensions Committee have urged the FCA and government to do much more to tackle pension scams and improve cost transparency on pensions.

The Pension Scams Industry Group (PSIG), the voluntary body set up to support trustees, providers and administrators in combating pension scams, has appointed Tommy Burns as deputy chair.

More than 400,000 Scots have fallen victim to a financial scam at some point in their lives, new research by Bank of Scotland and YouGov has revealed.