Trustees get power to block 'red flag' scam transfers

clock • 3 min read
Trustees get power to block 'red flag' scam transfers

Enhanced powers for trustees to block or pause transfers where there is potential scam activity will come into force on 30 November, the government has confirmed. In a bid to cut down on scam and fraudulent activity, the Department for Work and Pensions  has confirmed it will go ahead with "red" and "amber" flag proposals. Outlined in a consultation earlier this year, a red flag would allow trustees and scheme managers to completely block a transfer request where there are "tell-tale si...

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