New transfer regulations will not stop scams, say trustees

The consultant's latest research said some 72% of the 101 trustees it polled are not confident the new regulations will, over time, reduce the number of scam victims. Indeed, 25% believe it will inevitably have no impact at all. In an effort to prevent pension scams, the government has implemented new regulations which require trustees to assess whether a pension transfer request meets certain criteria. The majority (76%) of the respondents believe they are ready for new pension transfer regulations from the Department for Work and Pensions (DWP), however, only 24% have been familiari...