Some pension scam victims lost £1m

"The recent ban on cold calling is a positive step as it sends a clear signal that any unsolicited approach offering pensions reviews, transfer or investment advice is a scam."

Pension savers and other investors are encouraged to visit the ScamSmart website if they have concerns about an opportunity they have been presented with.

The partner agencies of Project Bloom are to meet before the end of January to discuss new ways to prevent scammers defrauding people out of their savings.