POUND NOTES
‘UP TO SEVEN MONTHS’ TO CLEAR CHRISTMAS DEBT
NEARLY a third of people who took out a loan to pay for last Christmas took up to seven months to clear what they owed, according to a survey by Nationwide Building Society.
More than a third (36%) said the festive season last year left them in the red, leaving them with an average debt of £426. The average time taken to clear this debt was two-and-a-half months, although for nearly a third (32%) it took up to July – seven months.
SURGE IN VISITS TO PENSION SCAM INFORMATION WEBSITE
THERE has been a five-fold increase in visits to a website from people seeking information about pension scams, following the launch of a joint campaign by regulators. The Financial Conduct Authority (FCA)’S Scamsmart website, which allows people to check pension opportunities they have been offered and find out more about avoiding scams, is now being visited every 27 seconds typically.
The FCA and the Pensions Regulator (TPR) launched the joint drive to raise awareness about pension frauds in the summer. Victims of pension scams last year lost an average of £91,000 each to fraudsters.