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Pledge to combat pension scams

Not every pension scam can be prevented. But we’re asking trustees, providers and administrators to pledge to do more to protect scheme members and follow the principles of the Pension Scams Industry Group (PSIG) Code of Good Practice.

From 30 November 2021 you must carry out certain checks and processes when dealing with pension transfer requests.

From 1 June 2022 you must offer to book a Pension Wise appointment for members requesting access to their pension pot.

You should also make the pledge to combat pension scams. This shows your commitment to protecting your members. It tells your members and the pensions industry that you are committed to stopping scammers in their tracks. Once you have taken the pledge it’s up to you and your scheme or organisation to take action.

Make the pledge

Step 1. Pledge you will combat pension scams

To make the pledge you commit to:

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.