Pension scams

This week’s top stories included news that buy-in and buyout volumes are set to reach £30-£40bn in 2021, while Pensions Infrastructure Platform owner announced its intention to float on the London Stock Exchange.

Police and regulators need greater resources to tackle the rising threat of pension scams, the Work and Pensions Committee (WPC) has been told, so the industry should also play its part in reporting all suspected scam activity.

Pension scam red flags have reached the highest level recorded, according to research by XPS Pensions.

In the third of a five-part series of articles for PP, pensions minister Guy Opperman sets out how impending legislation will help crackdown on 'crooks' scamming people out of their pensions.

XPS Pensions Group has launched a scam protection checklist to assist trustees in meeting The Pensions Regulator’s (TPR) scam pledge initiative.

Local Pension Partnership Administration (LPPA) has become the latest organisation to join the Pension Scams Industry Group (PSIG) forum.

Pension scams are not just about the money lost, but the lives devastated, says Nicola Parish, so the industry must unite to defeat this scourge.

The Pensions Regulator (TPR) has launched a pledge initiative to encourage trustees to commit to a step up in processes to protect member interests and combat pension scams.

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

Trustees should have the ability to pause suspected scam transfers, respondents agreed in a Professional Pensions poll.