Pension scam consultation on transfers is 'ill-conceived'

clock • 4 min read
Pension scam consultation on transfers is 'ill-conceived'

New UK regulations aimed at reducing pension scams will force trustees or scheme managers of occupational and personal pension schemes to meet at least one of four conditions before they act on a pension transfer request from a scheme member, the UK's Department for Work and Pensions (DWP) set out today (14 May) in a consultation which will run until 9 June 2021. But in quick reaction, Andy Bell, chief executive of AJ Bell, argued the consultation was ill-conceived: "Tackling financial fra...

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