PLSA comments on scams consultation | Pensions and Lifetime Savings Association

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PLSA comments on scams consultation

14 May 2021

The Pensions and Lifetime Savings Association (PLSA) has issued its comments on the Governement’s Pension scams: empowering trustees and protecting members consultation.

Nigel Peaple, Director Policy & Advocacy, PLSA, said: “The PLSA welcomes the Government’s approach to developing red and amber flags for suspected pension scam cases. It is important that schemes have the power to either stop a transfer – or at least refer the saver to talk to the Money and Pensions Service – where there is a concern that the transfer is to a potentially unsafe destination.

“This is a much needed step in stopping criminals profiting out of people’s life savings and it comes on top of previous welcome action by the Minister, Guy Opperman in the recent Pension Schemes Act. However, we believe yet more can be done in this area. We are currently campaigning to see the inclusion of pensions scams in the Online Harms Bill as well.”

Mark Smith, Senior PR Manager
 020 7601 1726 |  [email protected]k

Steven Kennedy, PR Manager
 020 7601 1737 | 07713 073024 | [email protected]