Home Scam/Fraud ‘Capacity Crunch’ Fears Over UK Pension Scam Rules

‘Capacity Crunch’ Fears Over UK Pension Scam Rules

By Martin Croucher (November 24, 2021, 11:09 AM GMT) — Pensions transfers could face major delays in the coming months because retirement savers face a bottleneck in gaining access to an official financial guidance service, a consultancy has warned. 

Lane Clark & Peacock LLP said on Tuesday that there are signs that the government has not fully prepared for an expected surge in referrals to the state-backed Money Helper service, as regulations are due to come into force at the end of November to help tackle pensions fraud.

The incoming rules mean that trustees will be able to block a transfer if they spot “red flag” warning signs, such as a member applying…

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