Capacity concerns ahead of new scam transfer powers

Trustees can block transfers where there is potential scam activity from next week

Hope William-Smith
clock • 2 min read
“Red” and “amber” flag proposals will go ahead from the end of this month
Image:

“Red” and “amber” flag proposals will go ahead from the end of this month

The Department for Work and Pensions (DWP) has failed to confirm if it is prepared to deal with a potential large volume of cases under the anti-scam measure systems being introduced from 30 November, according to Lane Clark & Peacock (LCP).

The consultancy said a parliamentary response to a question on capacity crunch tabled by MP Wendy Chamberlain did not give a clear answer on whether additional resources have been allocated. Enh...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

DB surpluses reach 'near record' of £154bn, XPS says

DB surpluses reach 'near record' of £154bn, XPS says

XPS says DB funding improved by £20bn in February driven by 0.2% rise in long term gilts

Jasmine Urquhart
clock 04 March 2024 • 1 min read
Professional Pensions' DB Funding Index

Professional Pensions' DB Funding Index

How the funding of defined benefit pension schemes is changing

Jonathan Stapleton
clock 04 March 2024 • 1 min read
SPP: New DB funding regime will make 'little' difference to pace of scheme closures

SPP: New DB funding regime will make 'little' difference to pace of scheme closures

Poll comes as 500,000 people still contributing to private sector schemes

Jonathan Stapleton
clock 01 March 2024 • 1 min read
Trustpilot