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Our pledge to combat pension scams

NILGOSC has pledged to do what we can to protect scheme members and follow the principles of the Pension Scams Industry Group (PSIG) Code of Good Practice in so far as it applies to the LGPS (NI).

Our Pledge

We commit to:

  • Regularly warn members about pension scams
  • Encourage members asking for cash drawdown to get impartial guidance from MoneyHelper
  • Get to know the warning signs of a scam and best practice for transfers by key staff completing the scams module in the Trustee Toolkit
  • Key staff keep up to date with industry changes by studying and using resources on the Financial Conduct Authority (FCA) ScamSmart website, TPR scams information and the PSIG code
  • Take appropriate due diligence measures by carrying out checks on pension transfers and documenting pension transfer procedures
  • Clearly warning members if they insist on high-risk transfers being paid
  • Report concerns to the relevant authorities and communicate and encourage members to report suspected scams

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