1 in 5 Scams are Pension Scams During Coronavirus

Published / Last Updated on 25/05/2020

During the coronavirus pandemic 1 in 5 scam victims have been targeted by pension fraudsters.

Today 26th May 2020, Canada Life reported that 5.2 million people in the UK had been or knew someone that had fallen victim of a financial scam since the start of the pandemic.

The most common scams reported were:

  • Banking with 60%
  • Insurance with 35%

1 in 5 victims has been targeted by pension scammers offering free pension reviews.

At the beginning of a survey of 2,000 adults revealed they felt more vulnerable to pension fraud.  43% reported they were more worried about being scammed.

Canada Life warned that since the outbreak an average of 1 in 3 people in the UK had received fraudulent or suspicious messages including emails, text messages and phone calls.


We all need to be vigilant.  Please read our guidance on pension scams and being more ScamSmart.

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