Guest comment: Time for trustees to strengthen their scam defences

TPR’s scams strategy spells out our ambition is to create a world where everyone is informed of the risk and protected against pension scams.

When we launched our scam-beating plan, I was clear that the job of protecting savers could not done by TPR alone.

I explained we needed industry to lead the way, both in thinking of innovative ways to beat scammers and by trustees and administrators doing everything they could to ensure savers are protected.

Almost two years ago we launched our Pledge to Combat Pension Scams, which offered trustees the opportunity to publicly demonstrate their commitment to keeping savers safe from scams.

We’ve already had more than 500 organisations and schemes make the pledge or self-certify that they meet its scam beating standards and, as a result, we believe around 16 million pension pots are now better protected.

But it’s not enough. That’s why, throughout the summer we’ve called on those who have made the pledge, but not self-certified, to follow through on their commitment by completing the self-certification process.

With increases in the cost of living continuing to make savers potentially more vulnerable to scams, trustees’ role as a first line of defence may never have been more necessary.

So, I urge any trustees who haven’t made the pledge to find out how by visiting TPR’s website.

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