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The Pensions Regulator (TPR) has added several features to its scorpion campaign to help prevent savers from falling victim to pension scams. This is a vital issue and their latest notice is replicated below.
"TPR is supporting trustees and helping savers spot the danger signs of a scam in a range of new resources as part of its scorpion campaign, these include:
Chief Executive at TPR, Lesley Titcomb said: ‘Scammers are criminals and we’re clamping down on their activities. It’s important that people help themselves by understanding the dangers of scams and the scorpion campaign provides the tools to do this. I encourage savers to visit pension-scams.com to arm themselves with the facts. ‘In addition, we welcome the government’s proposed new measures in the fight against scammers.’
The scorpion campaign includes five top tips to help savers protect themselves against the scammers:
TPR leads Project Bloom, a multi-agency taskforce which is working with government, the pensions industry, law enforcement agencies and other regulators to combat pension scams. Project Bloom has been instrumental in encouraging the government to consult on a range of measures intended to tackle pension scams, including banning pensions cold calling, restricting the ability to transfer to scam schemes and changes to how certain schemes are regulated."
Ascot Lloyd does its best to spot scams and to protect members from their own actions. However ultimately it is the member’s own responsibility.
If it sounds too good to be true, then it probably is.