XPS's Scams Red Flag Index fell for the fourth consecutive month, with 46% of transfers showing at least one warning sign of a potential scam or poor member outcomes, according to the pensions consultancy.
The Red Flag Index, launched as part of the company's monthly Transfer Watch tracker, measures the incidence of potential scams linked to defined benefit pension transfers that have been uncovered by its scam protection service. "While it is promising to see the level of pension scam flag cases continuing to fall, 46% is still a high number of warning signs so potential scams continue to be a cause for concern for trustees and sponsors," said Mark Barlow, partner at XPS Pension Group. Elsewhere, the firm said while remaining near its record high for most of September, its Transfer Val...
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