Pensions - Articles - ScamSmart campaign to be relaunched in July

 David Fairs, The Pensions Regulator’s Executive Director for Regulatory Policy, Analysis and Advice, said: “We welcome the committee’s report and their recognition of the flexible and pragmatic stance TPR has taken since the start of the COVID-19 pandemic.

 “We have been clear in our latest guidance that, where employers in financial distress are offered help, it must be balanced with protections for scheme members and not abused. For example, where a firm has suspended deficit repair contributions because of COVID-19, we’ve said it would be unfair to resume dividend payments to shareholders before contributions have been restored.

 “The committee’s focus on the danger of scams is also welcome. We’ve already urged savers not to rush decisions about their pensions at this time and highlighted the free impartial guidance from the Pensions Advisory Service.

 “In July, the ScamSmart campaign, run jointly by the FCA and TPR, will be relaunched. Last year, it reached three-quarters of pension savers between 45-65 urging them to get to know the warning signs of a scam and always check who they are dealing with.”