Over 45s are more likely to be targeted by pension scammers by email than by phone, a new report has found.

The Real Retirement Report by Aviva revealed that more than one million over-45s have been the victim of an email scam.

The report also highlights that the experience of being targeted by email is 22 per cent common among this age group, than by phone.

With the Government currently consulting on a cold calling ban to cut off a key source of pension scams, the findings highlight the importance of also tackling digital security, as the pensions industry moves towards greater online management of savings.

Aviva's findings suggest almost three in four (73 per cent) over-45s with internet access have been targeted by an email scam, equivalent to 20.61m people, and of these, six per cent - or 1.24m people - reported falling victim to an online approach.

In comparison, 60 per cent of over-45s – equivalent to almost 17m in total – have been targeted by fraudsters by phone, with seven per cent of those (1.19m) saying they were a victim of phone scammers.

Rodney Prezeau, managing director, consumer Platform, Aviva UK Life, said the research highlights the security risks that come with increasingly technological lives.

He said: "The Government is rightly taking action to combat the threat of pension cold-callers in later life, but it is important we don't forget the additional threats that exist in the digital age.

"The fact that digital advances have had a welcome impact in so many areas of life has left many baby boomers feeling their retirement plans and savings habits would have benefitted from today's technology.

"As we move pensions out of the Stone Age and make increasing use of online tools, it is vital we ensure that consumers are fully safeguarded and supported so more people are encouraged to engage with their savings."

First published 06.01.2017

Lindsay.sharman@wilmingtonplc.com