01 April 2021
The Pensions Scams Industry Group (PSIG), which was established in 2014 to help protect pension scheme members from scams, has announced the publication of version 2.2 of its Code of Good Practice on Combating Pension Scams.
PSIG Chair, Margaret Snowdon said: “This version of the Code brings scams prevention and developments up to date, we also expect to produce a further update later in the year when regulations supporting the Pension Schemes Act 2021. Alongside the new Code, we include a summary of changes since the last version in June 2019, so that readers can clearly see how the world of scams is evolving.
“We believe this Code is an important part of the solution to pension scams and the result of a lot of hard work by people and organisations who volunteered their valuable time and energy to review and comment on drafts. I am also grateful once again for the Minister for Pension’s support and foreword.”
Snowdon added: “We have also taken the opportunity to give the Code a facelift and I hope readers will approve of the new livery as well as the separation into user friendly standalone sections, as well as a consolidated version.”
The Code is available to download or request on the PSIG website here.
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About the Pension Scams Industry Group
The Pension Scams Industry Group (PSIG), formerly the Pensions Liberation Industry Group, is a voluntary body created by the pensions industry to help share good practice and reduce the risk of scams through consistently applied practical due diligence.
The Group launched its first Code of Good Practice for use by all in the industry in 2015 and on 22 June 2018, published Version 2.0.
The Code is widely supported and recognised as having saved many people from losing their pension savings through scams.
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