Pension scams

Trustees fearful of lack of engagement from members

Scams is an important issue, but administrators need to play their part

Survey finds that regulators should be doing more to combat the growing threat

Increase follows in the wake of the November 2021 changes to pension transfer rules

XPS research revealed higher-value pensions are much more likely to be targeted

Just 400 schemes and organisations have so far signed the pledge

Trustees lack confidence the new regime will work and are uncertain as to the process

Government proceeds with plans to enhance ability to tackle scams in suspect situations

WPC chair says government needs to boost legislation to tackle paid-for ads

Research found the majority of savers ignored unsolicited financial advice they had received