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.
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.
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.
The Pension Scams Industry Group (PSIG) has updated its voluntary code of practice to reflect regulatory and legislative changes that have affected the industry over the last year.
Some 52% of red flags raised by schemes on suspected scam pension transfers involve advisers or unregulated introducers, a report by the Pension Scams Industry Group (PSIG) has claimed.
The government has confirmed the long-awaited ban on pensions cold-calling will now be delayed until Autumn.
The Pension Scams Industry Group (PSIG) has updated its voluntary code of practice in a bid to help prevent members falling victim to evolving pension scams.