Pension scams: Five red flags to look out for

Fraudulent use of SSAS on the rise

clock • 4 min read

Martin Jones lists five key factors which could expose pension transfer scams involving SSAS...

In January 2015, the Pensions Ombudsman issued several decisions that clarified the legal tests around whether a pension scheme is a genuine occupational scheme. However, if the scheme fails to meet those tests, it may then come down to the scheme administrator's discretion (depending on the scheme rules) as to whether the transfer proceeds. It is, therefore, important for the scheme administrator to carry out due diligence on the parties involved in the transfer in order to protect the interests of the customer, especially if they are in the process of becoming the unwitting victim o...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Ex-pensions minister Ros Altmann shares 12 potential Budget pension reforms

Ex-pensions minister Ros Altmann shares 12 potential Budget pension reforms

‘Chancellor should aim to change as little as possible in the near term’

Professional Adviser
clock 14 October 2025 • 5 min read
Govt forced to respond as pension tax lock petition secures 14,000 signatures

Govt forced to respond as pension tax lock petition secures 14,000 signatures

Started by AJ Bell ahead of 26 November Budget

Jenna Brown
clock 13 October 2025 • 1 min read
Petition pushing government to protect pension tax incentives gets 3,000 signatures

Petition pushing government to protect pension tax incentives gets 3,000 signatures

AJ Bell pushes to end ‘damaging speculation’ on tax-free cash and reliefs

Jenna Brown
clock 07 October 2025 • 2 min read