If authorities really want to stop scams, they ought to make it safe for trustees to refuse a transfer that shows red flags, says Margaret Snowdon
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The industry needs more powers to protect savers by stopping scams in their tracks, but a network to share intel can help, says Margaret Snowdon.
PASA’s DB transfers code of good practice is asking the industry to commit to delivering faster, safer transfers. Holly Roach reports
With the law not adequately protecting savers from scams, the pensions industry must be more direct with members about the risks of transfers, says Margaret Snowdon.
The data the industry holds is not yet good enough for the pensions dashboard, industry experts say.
More than 8,000 investment fraud reports have been made so far this year, more than double the amount in the same period last year, a Freedom of Information request has revealed.
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
Margaret Snowdon says the industry remains handicapped, regardless of multiple layers of protection adopted on a voluntary basis