Almost £50,000 a day was stolen through pension scams in 2023, totaling £17.7m for the year, with an increase in cases attributed to the cost of living crisis. Action Fraud advises caution towards unexpected communications and investment opportunities, highlighting pension reviews and transfers as common scam tactics. The government is addressing retirement savings concerns, as fraud reports rose in 2023, warning individuals to be vigilant and seek advice from authorized financial advisors to avoid falling victim to scams.
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