Pension scam red flags hit record level - XPS

But steady transfer values

Sophie King
clock • 2 min read

Pension scam red flags are at their highest level ever recorded, according to data found by XPS Pension Group’s Transfer Watch.

XPS's Red Flag Index shows the incidence of scam red flags identified at the point of transfer and also monitors how many members are choosing to take a transfer from their defined benefit (DB) pension scheme. In November, the Red Flag Index was up 64% in November, highlighting an increase in transfers showing at least one scam warning. However, transfer activity remained steady and transfer values finished the month largely unchanged, despite some volatility in November. XPS Pensions Group partner Mark Barlow said: "November was a turbulent month with England's second national lockdo...

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