Almost 60% of ­shoppers will spread the cost of Christmas by using plastic, according to a Gocompare.com survey, with one in three saying the only way they could afford it was by using a credit or store card.

But those with small pensions are being warned over the growing pressure to turn them into supposedly instant cash, while caution is also advised regarding "Christmas loan" websites that have sprung up this month.

Almost two in five people have received messages via email or text inviting them to review their pension or release some of it as cash, according to insurer Phoenix. More than one-quarter said they were tempted to take up the offer, and 15% responded.

One in 10 said they had been contacted regarding an investment or savings policy they had supposedly forgotten about, and that the firm contacting them had offered to provide details in return for a fee.

Phoenix said the research highlights how vulnerable consumers are being targeted by pensions liberation fraudsters. Of those under 55 with a pension policy, nearly one-quarter would consider releasing money from their pension savings before the legal retirement age if they could, and 15% said they would definitely do so.

The insurer is seeing customers being offered the chance to move their pension monies into risky investment opportunities. It says: "These investment scams will be even easier to push once 55-year-olds get access to all of their pension funds in cash [from next April]."

Steve Hyndman, head of financial crime prevention for Phoenix Group, said: "People can lose their life savings through these scams. Many unscrupulous businesses offer customers the opportunity to unlock their pension, in exchange for cash, before they reach 55; often without making them aware of the fees they are charging for this service. The fees can be as high as 30%, in addition to the 55% tax charge they will incur for extracting money from their pot early."

Hyndman said someone with a £10,000 pension pot believing they could "liberate" an easy £3000 might end up paying a £3300 fee - and then find the remaining "invested" £3700 was missing when it came to retirement.

Hyndman continued: "Although the pension changes announced for April 2015 give much greater flexibility to pension policyholders, they also present some great opportunities for fraudsters."

Phoenix said it had so far prevented 998 people from losing a total of £21 million in potential liberation fraud.

Meanwhile, anyone thinking about borrowing money for Christmas is advised to avoid the latest plague of websites that promise easy cash with no checks, following a warning from the Consumer Finance Association (CFA).

According to the CFA, a string of festive-themed websites currently appear near the top of search engine results for payday loans. They include paydayxmas, verymerry loans, ChristmaspaydayloansUK, fastChristmasloans and Christmasloanspoorcredit, all of which have been reported to the Financial Conduct Authority by the CFA.