Yvonne Braun, Head of Savings, Retirement and Social Care, ABI said:
"Pension scams can rob people of their savings and leave savers much poorer in retirement. Raising awareness of such scams will enable people to be more vigilant and stop them becoming innocent targets.
"ABI members are helping to prevent innocent people falling victim, reporting suspicious transfers to the enforcement agencies. The industry continues to work closely with Government, regulators and The Pensions Advisory Service to help protect savers from these scams."
Michelle Cracknell, Chief Executive of the Pension Advisory Service said:
"Pension scams are becoming more prevalent. We have calls from many people who have been approached by cold callers offering pensions reviews. If you receive one of these calls, check with us so we can explain the warning signs so that you can identify the illegal or inappropriate activities. We have information on our website or you can contact our helpline to help people spot the scams.
"The campaign launched today by TPAS and the ABI is helping raise awareness of the warning signs that people should look out for and the risks involved. Through the support of other consumer organisations, we hope that we can reach more people to get these important messages out."
