URGENT and decisive action must be taken to stop scammers stealing the life savings of people from Yorkshire and across the UK. As the coronavirus pandemic continues to cause a rise in pension scams, joint research from The People’s Pension and The Police Foundation has found that from 13 pension providers alone, almost a thousand customers with combined savings of £54m were targeted by scammers last year. While pension providers can flag potential scams to customers, neither they nor the regulator are able to stop transfers; a key reason why two thirds of the customers still transferred £31m worth of funds despite the flagged risk. Victims are also left liable for tax penalties on their lost savings. We’re calling on the Government to protect pension savers in Yorkshire by providing pension companies and regulators with the power to stop a transfer if a scam is suspected, and also preventing victims of pension fraud from being hit with unfair tax bills. Support The Yorkshire Post and become a subscriber today. Your subscription will help us to continue to bring quality news to the people of Yorkshire. In return, you’ll see fewer ads on site, get free access to our app and receive exclusive members-only offers. So, please - if you can - pay for our work. Just £5 per month is the starting point. If you think that which we are trying to achieve is worth more, you can pay us what you think we are worth. By doing so, you will be investing in something that is becoming increasingly rare. Independent journalism that cares less about right and left and more about right and wrong. Journalism you can trust. Thank you James Mitchinson