RSM

RSM has unveiled its annual scheme survey, revealing the actions trustees are taking to protect members from fraud. Kim Kaveh looks at the findings.

The Financial Conduct Authority (FCA) has warned the public to be vigilant of investment scams as Action Fraud reveals more than £197m was lost to scams in 2018.

Pension cold-callers will face tougher sanctions from today as a long-awaited ban poses fines of up to £500,000 for "callous crooks" attempting to scam savers.

Defined benefit (DB) pension funds are increasingly under pressure to put in place dividend-sharing mechanisms as the regulator seeks to address the disparity with deficit contributions.

Trustees are becoming more alert to fraud risks but are still too complacent when it comes to prevention, RSM says.

This year will see consolidation, cyber risk and cost transparency dominate the industry's focus as schemes bid to improve value for money and meet data protection requirements.

HM Revenue and Customs (HMRC) has published an internal manual on how value-added tax (VAT) should be calculated for defined benefit (DB) occupational pension schemes.

Ransomware is the most likely type of cyber attack on pensions says RSM head of pensions Ian Bell.

Michael Klimes explores what practical steps schemes can take to protect members from hacking and identity fraud

Trustees are being urged to push their sponsoring employers for better cyber security protocols after a government study found many do not have comprehensive action plans.