Combating Pension Scams Code of Good Practice

Combating Pension Scams Code of Good Practice

In light of the launch of “Combating Pension Scams: A Code of Good Practice”, Hugh Nolan, Chief Actuary, JLT Employee Benefits, comments:

“JLT Employee Benefits welcomes the Combating Pension Scams Code of Good Practice published today, Monday 16 March 2015.  We are pleased to be part of the Industry Group which wrote the Code under the Chairmanship of Margaret Snowdon OBE.

“The Code is a significant step forward  in standard due diligence to help trustees and administrators determine the risk of a transfer being a scam. Trustees are expected to use their best judgment when a member requests a transfer and must balance statutory requirements and the desire to protect all members’ benefits.  As of today, the Code sets out the principles to follow and provides helpful guidance for practitioners.  We are pleased to support this Code.”

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