Pension scams

A government proposal to limit the right to transfer to protect members from scams 'lacks ambition' and needs a much tougher approach, says the industry.

The government's proposals to clamp down on pension scams will not go far enough to stop fraudsters, according to the Pensions Management Institute's (PMI) president.

Trustees are being urged to use quarterly meetings to set their administration priorities and scrutinise providers.

Brexit will not have a material impact on auto-enrolment (AE) contribution rates and should not be used as an excuse to meddle with the regime, the industry has said.

Guidance on transfers to 'suspicious' schemes

The number of UK adults who received cold calls about their pension rose to 26% according to research commissioned by Phoenix Group.

Administrators have a moral duty to ensure transfers are done correctly and take an assertive stance against scammers, according to an administration manager.

'Concerned' consumers could be scammed

The Pensions Advisory Service (TPAS) has launched an online tool to give guidance to savers who are worried they are at threat from pension scams.

The fallout from the British Home Stores (BHS) saga and the government's forthcoming crackdown on scams will be some of the biggest topics in pensions next year.