ELDERLY people are at risk of being the victims of scams  if they hand out personal financial information to cold callers over the telephone, the Conservative candidate for Winsford has warned.

The Conservative candidate for Eddisbury, Antoinette Sandbach has warned the elderly must be vigilant against potential scammers who may target the old and vulnerable.

To date, under-55s have been the primary target for scammers promising to release people’s pensions as pension loans or upfront cash.

“Peoples savings are at risk and these scammers are very clever,” Ms Sandbach said. There is a risk that vulnerable residents will be conned out of their life savings.”

Ms Sandbach said residents in Eddisbury contact the new government service Pension Wise for financial advice, which has been set up to help those approaching 55 to understand their options.

The Pensions Regulator has recently refreshed its scorpion campaign to alert retirement savers and pension scheme trustees to the risks of scams.

It offers advice for savers on how to spot a scam, and what to do if they have been contacted by a suspect organisation.

Ms Sandbach said:  “It is important that people get proper advice and I would encourage Eddisbury constituents to contact Pension Wise for advice.”

If people are concerned they can contact The Pensions Advisory Service on 0300 123 1047 or if they have already accepted an offer, they can report it to Action Fraud or call 0300 123 2040.