Pension scam code aims to clean up Qrops
A pensions industry body has identified qualified recognised overseas schemes (Qrops) as the main source of pension scams and is updating its code of practice to reflect this.
The Pension Liberation Industry Group (PLIG) launched a code of practice to deal with pension scams three years ago, and is now working on an updated version of this document, to be launched this spring.
Speaking at the Pensions Administration Standards Association (Pasa) conference on 13 February, Ben Fairhead, a partner at law firm Pinsent Masons and member of PLIG, said fraudsters are using the "traditional big scam occupational scheme" less and are now focusing on international self-invested personal pension (Sipp) schemes and Qrops. Please link to FT Adviser to read the full article by Maria Espadinha.