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Featured - Account Types
What type of savings account do you need?Find out about the different types of savings accounts available to suit a variety of needs.
Savings
ISAs
Residential
Buy to let
Specialist mortgages
Featured - Debt and your credit score
How debt impacts your credit scoreA healthy credit score has its benefits, so make sure you manage your debt correctly.
Loans
Featured - Life Insurance
Life InsuranceFor peace of mind that your loved ones will be supported financially after you die, consider taking our life insurance. Find out more and compare policies.
Home & vehicle
Health & travel
Featured - Switching deals
In need of a cash boost?Providers often entice new customers with cash incentives for moving current accounts. Compare deals and find out how to make the switch:
Current accounts
Featured - Purchase Cards
Best purchase credit cardsExplore the best cards with a 0% introductory period.
Credit cards
Credit repair
Calculators & guides
Business savings
Business products
Business insurance
How much can I give as a cash gift?
How much can I give as a cash gift?Will your loved one's gift be tax affected?
Categories
Featured guides
Popular news
Latest news - by category
Other money & finance news
Featured Star Ratings categories
Other Star Ratings categories
Consumers saving towards retirement are being warned to protect their pensions from fraudsters, as Action Fraud reports that £1.8 million has been lost to pension fraud so far this year.
Action Fraud data found that in the first three months of this year, there were 107 reports of pension fraud received, which is an increase of almost 45% compared to the same period during 2020.
Prior to this year, the number of pension scams had been falling steadily, from 1,788 in 2014 to 358 in 2020, however with the year-on-year increase for the first three months of 2021, reports may rise this year.
According to Action Fraud, Pension scams often include free pension reviews, ‘too good to be true’ investment opportunities, or offers to help release money from your pension even though you’re under-55. Pauline Smith, head of Action Fraud, explained: “Criminals are malicious and unapologetic when it comes to committing pension fraud. They are motivated by their own financial gain and lack any kind of empathy for their victims, who can often lose their whole life savings to these scams.
“We know pension fraud can have a devastating impact, both financially and emotionally, but any one of us can fall victim to fraud and it’s nothing to feel ashamed or embarrassed about. It’s incredibly important that instances of pension fraud, and attempted scams, are reported to Action Fraud. Every report helps police get that bit closer to the people committing these awful crimes. Reporting to Action Fraud also allows our specialist victim-support advocates to provide people with important protection advice and signpost them to local support services.”
Mark Steward, director of enforcement and market oversight at the Financial Conduct Authority (FCA), added: “Scammers target people from all walks of life. It doesn’t matter the size of your pension pot, scammers destroy retirement dreams so it’s vital that consumers know how to protect themselves from scammers.
“The best way to protect yourself is to know who you’re dealing with. Always check the FCA Register to make sure that anyone offering you pension advice or any other financial service is authorised by the FCA to perform the service they are providing for you, and that the details they are providing are the same as those on the Register.
“Unexpected and unsolicited offers, free pension reviews, promises of high returns which sound too good to be true and pressure to make a decision quickly are all warning signs of a scam. Use the tools on our ScamSmart website to protect yourself and your retirement.”
Action Fraud has outlined these simple steps that consumers can follow to help protect themselves from pension scams:
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With the new year fast approaching, we asked 2,000 Britons about their saving goals for 2025. Read on to see our breakdown of their answers.
With the new year fast approaching, we asked 2,000 Britons about their saving goals for 2025. Read on to see our breakdown of their answers.
As almost all average savings rates decline, consumers may need to take action to see their money grow in real terms.
As almost all average savings rates decline, consumers may need to take action to see their money grow in real terms.
As predicted, the Bank of England voted 8 to 1 in favour of cutting the base rate to 4.75% in November.
As predicted, the Bank of England cut the base rate to 4.75% in November.
With the new year fast approaching, we asked 2,000 Britons about their saving goals for 2025. Read on to see our breakdown of their answers.
With the new year fast approaching, we asked 2,000 Britons about their saving goals for 2025. Read on to see our breakdown of their answers.
As almost all average savings rates decline, consumers may need to take action to see their money grow in real terms.
As almost all average savings rates decline, consumers may need to take action to see their money grow in real terms.
As predicted, the Bank of England voted 8 to 1 in favour of cutting the base rate to 4.75% in November.
As predicted, the Bank of England cut the base rate to 4.75% in November.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.