Stan Russell, retirement expert at Prudential, said:
“The Government should be applauded for cracking down on pension fraud. However, there are simple steps pensioners can take immediately to protect themselves. The first is to be wary of any unexpected contact about unusual pension or investment opportunities, and be wary of making any financial decision based on a phone call or email. Pensioners should steer clear of offers that appear too good to be true and consult a qualified financial adviser registered with the Financial Conduct Authority if they want to maximise their income in retirement while avoiding fraud.”
