Wealth at work

Warning that lax due diligence could be compounding the problem

Fears include scam risks, lack of engagement and lack of understanding of tax implications

Trustees need to be given the choice to directly refuse pension transfers if the industry is to properly plug the proliferation of scams, the Work and Pensions Committee (WPC) has been told.

The Pensions Management Institute (PMI) has launched a financial education and guidance service supported by Wealth At Work.

Simplified, one-page pension wake-up packs launched last week, but the industry does not agree that they will make much difference to members’ saving attitudes. Holly Roach reports

Trustees fear their members are not equipped to deal with the risks they face when accessing their pension and worry those nearing retirement will face predatory attention from scammers, research by Wealth at Work reveals.

Jonathan Stapleton takes a look at how employers can help their members through the at-retirement journey and ensure they are getting the right support to make decisions.

A panel explored the concept of innovation in the pensions landscape. PP reveals what they are