Financial Conduct Authority

Trustees need to be given the choice to directly refuse pension transfers if the industry is to properly plug the proliferation of scams, the Work and Pensions Committee (WPC) has been told.

Pension companies must be given the power to trigger an “urgent regulatory response” to savers at risk of fraud, while regulators should be able to override the right to transfer, The People’s Pension and The Police Foundation have said.

Trustees are set to have an increased duty of care to ensure employees and members make informed choices when accessing their pension, according to Wealth At Work.

Pension scams are not new, but the number of pension scams has soared by 400% since the beginning of the COVID-19 pandemic. Tom Williams asks what is a trustee’s role in protecting members against pension scams?

A potential surge in pension transfer requests as a result of the economic fallout from lockdown could see demand for advice rocket, putting increased pressure on the profession, the Personal Finance Society (PFS) has warned.

Pensions schemes will face significant additional working costs reaching into the millions of pounds to prepare their data for the pensions dashboard, according to Lane Clark & Peacock (LCP).

As the deadline draws nearer for the implementation of investment pathways, Tim Jablonski sets out what IGCs and GAAs will need to scrutinise.

Legal & General (L&G) has agreed a deal with PensionBee that will see its retirement income business provide annuities to the online pension provider’s customers.

EValue has launched a range of investment pathway solutions ahead of the implementation deadline next February.

Baroness Nicky Morgan has been appointed as a non-executive director of the board of the Financial Services Compensation Scheme (FSCS) alongside Cathryn Riley and Wendy Williams.