Pension savers are being warned to watch out for scams as over £30 million has been lost to pension scammers in just three years.
Information released by the Financial Conduct Authority (FCA) and The Pension Regulator (TPR) reveals that a total of £30,857,329 has been lost to pension scammers since 2017. The full article can be read online at www.moneyfacts.co.uk
In 2019, the Pensions Transfer Gold Standard was launched. This is a voluntary code of good practice for safeguarded and defined benefit pension transfer advice, based around a set of nine principles. Full details at: https://www.thepfs.org/about-us/initiatives/the-pension-transfer-gold-standard/
Firms are required to adopt and promote the principles so consumers can better understand and find good advice, and be confident they are dealing with a firm that goes beyond the minimum requirements.
Hamnett Wealth Management have adopted the Pension Transfer Gold Standard. For more information, please visit https://www.hamnettwealth.com/retirement.html or call us on 0114 235 3500.