Latest DB transfer scam powers face capacity constraints - LCP

In force from 30 November

Hope William-Smith
clock • 2 min read

The Department for Work and Pensions (DWP) has failed to confirm if it is prepared to deal with a potential large volume of cases under the anti-scam measure systems being introduced from 30 November, according to Lane Clark & Peacock (LCP).

The consultancy said a parliamentary response to a question on capacity crunch tabled by MP Wendy Chamberlain did not give a clear answer on whether additional resources have been allocated. Enhanced powers for trustees to block or pause transfers where there is potential scam activity were confirmed by the government on 8 November, with the DWP saying it will go ahead with its planned "red" and "amber" flag proposals from the end of this month. As part of this process, all defined benefit transfers will be checked - a red flag would raise enough concern to remove the statutory right ...

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

Why documentation is king in the world of SSAS

Why documentation is king in the world of SSAS

'SSAS documentation - it isn't just best practice or a fiduciary requirement'

Caitlin Southall
clock 04 July 2025 • 4 min read
Steve Webb: Sceptical advisers should not give up on pensions dashboard

Steve Webb: Sceptical advisers should not give up on pensions dashboard

‘A big mistake to underestimate the impact it will have’

Jenna Brown
clock 03 July 2025 • 3 min read
What role can advisers play in closing the gender pension gap?

What role can advisers play in closing the gender pension gap?

Advisers are uniquely placed to influence the gender pension gap

Olivia Perry
clock 02 July 2025 • 7 min read