New measures to protect private pension savers from the threat of scammers, including a ban on calls, emails and text messages are to be introduced by the government.
The measures will include a ban on all cold calling in relation to pensions, a tightening of HM Revenue & Customs rules to stop scammers opening fraudulent pension schemes, and tougher actions to help prevent the transfer of money from occupational pension schemes to fraudulent ones. Under the new rules trustees will have to check their receiving scheme is regulated by the Financial Conduct Authority (FCA), has an active employment link with the member or is an authorised mastertrust. Under current legislation, transfers can be blocked where trustees can establish the receiving schem...
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