Degree-educated savers ‘at risk of fraud’

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Image caption Pensions have been stolen or put into high-risk schemes

Degree-educated savers are more at risk of losing their pension to fraudsters than those without the qualification, a survey by regulators has suggested.

Fraudsters often target those with larger pension pots, but also find a route to their victims by offering “free pension reviews”.

Some 14% of people with a degree told regulators they would accept a review from a company they did not know.

Actual pension scam victims lost an average of £82,000 last year.

It would typically take somebody 22 years to build a pension pot of that level, according to the Financial Conduct Authority and The Pensions Regulator.