Over 50s Approached by Fraudsters

Over 50’s Approached by Fraudsters. 

Fidelity Worldwide investment have found one in eight over 50’s have been approached by fraudsters claiming to get them access to their pension pot early.

The research said that these fraudsters were targeting this age range in an attempt to take advantage of those who were confused by all the pension changes that came with the budget.

It was found that only 11% of those aged 60 and above were approached, but 17% aged 50-59 had been targeted. 61% of those recognised the scam and did not engage, however 27% did not spot it immediately and one in eight trusted the information enough to engage and learn more.

This has resulted in a finding that most did not understand the new rules on accessing pension pots and 68% said they did not know what rules applied to accessing their pension.