Overview
- The Department for Work and Pensions has opened a consultation that would add a new warning flag for transfers into Small Self‑Administered Schemes where there is no clear link between saver and scheme.
- Ministers have said transfers that trigger strong scam indicators would be automatically blocked, giving trustees and administrators a clear power to stop suspect moves before funds leave a pension pot.
- The government announced the consultation on Tuesday, June 9, 2026, and is asking trustees, administrators, scheme members and pension professionals for views as it develops wider anti‑scam measures.
- Officials highlighted that average losses in SSAS‑linked scam cases have risen to about £38,400 per victim, a key reason the proposals focus on SSAS arrangements commonly used by small businesses.
- The move builds on the 2021 transfer rules that let trustees pause or refuse transfers and follows a 2023 review that said the rules work but can be complex; ministers say they will also seek to cut red tape for legitimate transfers and may bring further regulatory or primary legislation later in 2026.