Pension Bee

“Of the 51,417 amber flags on pensions since November 2021, just 18 per cent were found to relate to high‑risk investments or other flagged categories, according to an FOI request to the Money and Pen…”

“In contrast, 46 per cent of transfers which were flagged, were found to be ‘unknown’, meaning they lacked a reason for being halted.”

“Meanwhile, 35 per cent of cases were flagged as they were ‘overseas investments’ where savers move their retirement savings from the UK to an offshore scheme or UK scheme with international fund opti…”

“The data also found that nearly 53,000 mandatory sessions have been carried out by MaPs in the past four years, but no data on how many of those resulted in identifying genuine scams, led to a referr…”

“The fastest transfers took just five days, while the slowest took between a staggering 47 to 90 days.”