Pension scammers screw up lives. But the industry is working together to stop them with more than 600 organisations pledging to combat pension scams.
Join them now and commit to taking action to protect your members and follow the principles of the Pension Scams Industry Group (PSIG) Code of Good Practice. Once you have taken the pledge it's up to you and your scheme or organisation to take action.
Step 1. Pledge you will combat pension scams
To make the pledge you commit to:
- regularly warn members about pension scams
- get to know the warning signs of a scam and best practice for transfers by completing the scams module in the Trustee Toolkit and encourage all relevant staff or trustees to do so
- study and use the resources on the Financial Conduct Authority (FCA) ScamSmart website, our scams information and the PSIG code
- consider becoming a member of the Pension Scams Industry Forum
- report concerns about a scam to the authorities and communicate this to the scheme member
Step 2. Self-certify you have taken action to meet the pledge
Once you have implemented the pledge commitments you can self-certify. This will fully demonstrate to your members and the pension industry that you are playing your part to make sure that fewer members are devastated by scams. We will send you resources that you can use to show your commitment and demonstrate that you're using best practice.
It is important you are clear about what the commitments of the pledge mean. You should be clear that this process has required you to self-certify you follow the pledge and not that The Pensions Regulator has certified you.
Find out how to self-certify you meet the pension scams pledge.
Step 3. Go further
We want the industry to act now to combat pension scams. The pledge sets out our expectations for the pensions industry and shows you take protecting scheme members seriously.
The pledge has been developed with PSIG to reflect the main principles of their code of good practice. But you can go further by using the PSIG code, which details more steps you can take to protect members.