LPFA becomes latest member of Pension Scams Industry Forum

The London Pensions Fund Authority (LPFA) has become the latest member of the Pension Scams Industry Forum (PSIF) in an effort to share knowledge and best practice on pension scams across the industry and safeguard members’ pension savings.

The forum, which also shares its findings with regulators and police through representation on Project Bloom, was established by the Pensions Scams Industry Group (PSIG) in an effort to improve knowledge sharing on pension scam issues.

LPFA also became a signatory to The Pensions Regulator’s pledge to combat scams in April 20201, which requires signatories to become members of PSIF, alongside broader commitments on appropriate due diligence on transfers and communications with members.

The LPFA has since worked in partnership with its delegated pension administrator, Local Pension Partnership Administration (LPPA), to follow PSIG’s Code of Good Practice, including regulator communications on scam risks with members.

LPFA chief legal and compliance officer, Helen Astle, commented: “Preventing pension scams is one of the key responsibilities for us as a fund and we will do our absolute best to protect the pension savings of our members.

“Joining the PSIF and signing to TPR’s pledge is one way to achieve this and we will make every effort to minimise the risk to our members’ pension benefits.”

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