Contacted 500 DC schemes
The Pension Scams Industry Group (PSIG) has updated its voluntary code of practice to reflect regulatory and legislative changes that have affected the industry over the last year.
FCA business plan 2019/2020
Focusplay Retirement Benefit Scheme
Fines of up to £1m
Around £18m not collected
Average £91,000 lost to scams
Will be sentenced on 6 February
Accused of submitting false compliance
Come into force early 2019
370 people may have transferred
Replaces Lesley Titcomb
Bought retailer in March 2016
Average £91,000 loss to scams
'Leave me alone or I will retaliate'
An ambitious objective
The increase in minimum AE contributions has had little impact on opt-out rates - with cessations after April increasing by less than two percentage points, data from The Pensions Regulator (TPR) shows.
Rolled out to 25 schemes next month
Stepping up 'proactive involvement'
Bought failing retailer for £1
Financial regulators renew anti-pensions scam campaign
In response to a freedom of information request