Advisers fear scamming will increase despite sector's efforts

'Industry cannot roll over' - Momentum Pensions

Victoria McKeever
clock • 2 min read

Two-thirds of advisers fear a growth in pension scams, according to research from Momentum Pensions, which itself identified transparency and governance as key to minimising concerns.

The pension and SIPP provider's head of sales John McCreadie urged the whole financial services sector to stick together in its battle against pension scams. "The industry cannot simply roll over and accept these concerns - we must act collectively to build defences against the scammers," he said. McCreadie added that part of a strong defence was to have governance throughout the entire process of both providing and advising on pensions products. "The industry needs to look at pension transfers from entry to exit point," he explained. "It's incumbent on us all not to pass the buck on gov...

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