Pressure Grows On Gov't To Bring In Pension Scam Rules

Law360, London (November 11, 2020, 12:57 PM GMT) -- Three quarters of consumers believe that pension companies should be able to halt a savings transfer if they believe it is a scam, a survey found on Wednesday, as the government comes under pressure to introduce new safeguards into legislation.  

The People's Pension, a workplace retirement savings company, found that 78% of more than 2,000 respondents to a YouGov survey backed the idea that providers should be able to step in if they detect a suspicious transfer request. The company urged the government to consider the measure, which has been tabled as a proposed amendment to the Pension Schemes Bill,...

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