The pension reforms which come into force this month will be good news for some, as it will allow them to access their money to spend how they wish.

However, they are also giving a fresh opportunity to pounce for the unscrupulous fraudsters who prey on those who might be in a spin with new regulations.

There may be many people who are confused by the new regulations, and there will be no end of individuals and groups who will happily take advantage of that confusion.

They will target the vulnerable and elderly who are not sure what to do about the new pension rules, if anything, and confuse them even further into parting with their money.

This could be through utterly bogus arrangements which see the unlucky pensioner handing over their savings and getting nothing in return.

Many older people are too trusting of anyone who appears to put up an authoritative front, and we all know that the scammers these days can use very persuasive and credible-seeming tactics.

Anyone who is of an age that they can access their pensions under the new rules must be on their guard against fraudsters, and we should all keep an eye on older relatives to make sure they aren't being targeted in this way.

There can be no lower blow than defrauding someone who has worked all their life out of the money they have set aside to live on in their old age.

Unfortunately, there will be quite a large number of immoral fraudsters who will see these new pension reforms as an opportunity to do just that, and we must all be on our guard.