Source · Select Committees · Work and Pensions Committee
Recommendation 11
11
Paragraph: 46
The pensions industry does not universally share information about possible scams amongst providers and schemes.
Conclusion
The pensions industry does not universally share information about possible scams amongst providers and schemes. Information can be, and is, shared voluntarily, including through the Pension Scams Industry Group and the forum it supports— the Pension Scams Industry Forum. WWee rreeccoommmmeenndd tthhaatt PPrroojjeecctt BBlloooomm sshhoouulldd ffaacciilliittaattee iinndduussttrryy iinntteelllliiggeennccee sshhaarriinngg aanndd tthhaatt tthhee GGoovveerrnnmmeenntt sshhoouulldd lleeggiissllaattee ttoo rreeqquuiirree iinndduussttrryy ppaarrttiicciippaattiioonn iinn iinntteelllliiggeennccee sshhaarriinngg aatt tthhee nneexxtt ooppppoorrttuunniittyy..
Paragraph Reference:
46
Government Response
Accepted
HM Government
Accepted
The Government agrees with this recommendation and it fits within the plans of the Department for Work and Pensions (DWP) to review the policy. Scams are ever evolving and DWP recognises the importance of making sure the legislation is effective in tackling pension scams. DWP cannot, however, guarantee that any legislative changes following a review could be made during this Parliament. This would very much depend on the nature and urgency of any changes, and the legislative timetable.