Tag: Pension Transfer
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Pension scammers pretend to be regulator
I was appalled to read recently that some scammers were actually posing as staff of the regulator for pensions. The Pensions Regulator (TPR) has that warned fraudsters are targeting people with cold-calls pretending to come from the regulator. The Pensions Regulator said it has received reports of pension holders being cold-called by individuals who posed as…
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Pension cold-calling ban to be in place ‘by June’
A ban on pension cold-calling will be put into law by June this year after the government introduced amendments to the Financial Guidance and Claims Bill. The Bill, due to reach the House of Commons report stage on Monday 12 March, now includes a cold-calling ban and pension guidance provision. The Work and Pensions Committeesaid…
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Suspect pension advisers to be named on watch list
Excellent news:- Firms and advisers arousing industry suspicions of wrongdoing will be placed on a semi-secret watch list to warn businesses considering working with them. The Pensions Administration Standards Association (PASA) is working on a closed list with names of pensions schemes and advisers that have been flagged up as potential scammers, to be shared among…
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Don’t request pension transfer values before speaking to a financial adviser.
A number of cautionary notes have been flagged up in the Technical Press warning members of Defined Benefit Pension Schemes (Final Salary Schemes) not to request pension transfer values before speaking to a financial adviser. Members of Schemes are being warned that there is a risk that individuals “get blindsided by a big number” when they get…