This week a new rule came into place that will stop millions of pensioners from transferring money. The rule has been brought into place to help keep OAP's money safe The rules mean pensioners' requests to move their money or withdraw large sums could be blocked if the transaction is considered suspicious.
Under it, pension trustees will be able to flag transactions that are out of the ordinary – or potentially fraudulent – and block any payments that could leave the elderly person out of pocket.
Minister for Pensions Guy Opperman said: "We are tackling the scourge of pension scams to safeguard pensioners' hard-earned savings." READ MORE: McDonald's fans enraged as iconic burger is axed from the menu The rules follow on from a ban on
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