Guide: Combating pension scams; A code of good practice
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The Code covers:
• Standard Information/evidence required by the transferring scheme to enable a transfer to proceed with reasonable assurance that it would not result in a pension scam.
• Guidance on reasonable steps to take to minimise delay and provide reassurance to all parties.
• A set of example letters.
• Standard information provided to and requested from members and other parties, including ways to raise member awareness of pension scams.
• Additional information to consider when dealing with transfers to a Self-Invested Personal Pension (SIPP), Small Self-Administered Scheme (SSAS) or QROPS.
• The steps for reporting suspicious cases.
- A guide to help trustees and providers to identify some “red flags” which may indicate the need for greater scrutiny.
