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14 September 2020

PMI's response to the Work and Pension Committee’s Call for Evidence 'Impact of pension freedoms and protecting pension savers'

What is the prevalence of pension scams? Information regarding pension scams is not readily available, so, from a macroperspective, it is difficult for providers and industry bodies to comment on the true extentof pension scams. There is no doubt that pension scams are an issue, but it is difficult toget a true picture of the types and magnitude of scams taking place, and the PMI wouldbe supportive of efforts to improve industry-wide dataon the prevalence of scams.

PMI is the professional body which supports and develops those who work in the pensions industry. PMI offers a range of qualifications designed to meet the requirements of those who manage workplace pension schemes or who provide professional services to them. Our members (currently some 6,000) include pensions managers, lawyers, actuaries, consultants, administrators and others. Their experience is therefore wide-ranging and has contributed to the thinking expressed in this response. Due to the wide range of professional disciplines represented, our members represent a cross-section of the pensions industry as a whole.

PMI is focused on supporting its members to enable them to perform their jobs to the highest professional standards, and thereby benefit members of retirement benefit arrangements for which they are responsible.


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