NAPF welcomes code of good practice for combating pension scams
16 March 2015
The National Association of Pension Funds (NAPF) has today (Monday) welcomed the publication of Combating Pension Scams: A Code of Good Practice.
Graham Vidler, Director of External Affairs, NAPF said:
“The NAPF is pleased to be part of the Industry Group which wrote the Pension Scams Code of Good Practice, consulting widely with other stakeholders.
“The Code is a significant development in setting the industry standard for due diligence to help trustees and providers assess information provided and determine the risk of a transfer being a scam. Trustees and providers must use their best judgment in responding to member requests for transfer, balancing statutory requirements and member protection. From today, the Code sets out the principles to follow, together with helpful guidance and example letters to use.”
The Code can be found on the industry website Combating Pension Scams.
-ENDS-
Notes to editors:
The NAPF is the voice of workplace pensions in the UK. We speak for over 1,300 pension schemes that provide pensions for over 17 million people and have more than £900 billion of assets. We also have 400 members from businesses supporting the pensions sector.
We aim to help everyone get more out of their retirement savings. To do this we spread best practice among our members, challenge regulation where it adds more cost than benefit and promote policies that add value for savers.
Contacts:
Lucy Grubb, Head of Media and PR, NAPF, 020 7601 1726 or 07713 073023, [email protected]
Eleanor Bennett, Press Officer, NAPF, 020 7601 1718 or 07825 171 446, [email protected]