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Webinar description:

According to a Wealth at Work survey with the Pensions Management Institute, some 94% of trustees fear members approaching retirement will be targeted by scammers.

Such fears are not unfounded. Earlier this year, the Pensions Administration Standards Association published its counter fraud guidance for UK pension schemes, trustees and providers, after revealing industry research which showed that fraud is costing the pensions industry some £6.2bn per year. Furthermore, the Pension Scams Industry Group (PSIG) estimates that some 40,000 people may have lost a total of £10bn to pension scams since 2015.

Yet, while scams maybe the most visible way in which members can lose money from their pensions, members are also at risk from receiving inappropriate investment advice or simply making the wrong decisions at retirement – both of which could lead to poor outcomes in retirement.

There is a glimmer of hope though – regulators are bringing in a range of measures to help protect against scams and poor member decisions; industry bodies are stepping up with codes of good practice and an increasing number of trustees are providing financial education or guidance or facilitating regulated advice for members.

This webinar will look at the challenges members face from both pension scams, inappropriate advice and poor decision making; assess what trustees and employers should do and look at both the risks of trustee boards not providing education, guidance and regulated advice as well as the challenges they face in providing it.

Presenters

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Jonathan Stapleton

Editor, Professional Pensions

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Jonathan is editor of Professional Pensions and has been reporting on UK occupational pensions since 2001. He has won a number of awards during his career, most recently the SPP Trade Journalist of the Year Award in 2019. He is also holder of the PMI's Retirement Provision Certificate.

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Jonathan Watts-Lay

Director, WEALTH at work

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Jonathan is one of the original founders of the business and has spent many years working with companies across the UK to help their employees make informed financial decisions through the provision of financial education, guidance and regulated financial advice.

In recent years this service has extended to the Trustee market, supporting pension schemes to help their members understand their financial situation, particularly with regards to pensions and how to optimise income in retirement. Jonathan is also a recognised commentator on financial matters, particularly with regards to pensions and retirement. He is often quoted in the national and trade press and frequently speaks at conferences and roundtable events. See latest news for more details.

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Sean Browes

Accredited Professional Trustee, Dalriada Trustees

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Sean is an Accredited Professional Trustee at Dalriada. Following graduation, Sean entered the pensions industry in 1988 and worked for two major benefit consultancies in both administration management and consultancy roles, before joining Dalriada in 2003.

Sean has a broad range of skills and experience suited to all areas of pension scheme management, but has particular strengths in technical administration aspects. Sean has also overseen a number of key business projects for the Group.

Sean is Accredited as a Professional Trustee by the Association of Professional Pension Trustees.

Sean leads the team dealing with Dalriada’s appointments by the Pensions Regulator (tPR) to schemes suspected of pension liberation. He now has a wealth of experience and knowledge with regard to the unique characteristics associated with the administration and management of these types of scheme and the challenges they present.

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Mark Cliff

Trustee Director, 20-20 Trustee Services

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