Trustees need to be given the choice to directly refuse pension transfers if the industry is to properly plug the proliferation of scams, the Work and Pensions Committee (WPC) has been told.

Close to two-thirds of industry respondents to a Professional Pensions poll agreed they would like to see flat-fee structures on low-value defined contribution (DC) pots scrapped.

The total assets under management (AUM) held by the world’s 300 largest pension funds has increased this year to reach $19.5trn (£14.8trn).

Trustees are set to have an increased duty of care to ensure employees and members make informed choices when accessing their pension, according to Wealth At Work.

The former trustee and chief executive officer of Yateley Industries for the Disabled has been ordered to pay back £250,000 he stole from the charity’s pension scheme.

The Work and Pensions Committee (WPC) is hoping victims of pension fraud will respond to the call for input ahead of its much-anticipated inquiry reviewing the impact of the introduction of pension freedoms five years on.

This week’s top stories include the Marathon Service Limited Pension and Life Assurance Scheme’s £610m full buy-in with Rothesay Life, while XPS Pensions Group warned mature scheme deficits could double under The Pension Regulator’s ‘fast track’ rules....

The former trustee of a charity who defrauded a pension fund of £250,000 will appear in court today (4 September), one year after The Pensions Regulator (TPR) said it would seek a confiscation order for the funds’ return.

The Transparency Task Force (TTF) has questioned whether the Financial Conduct Authority (FCA) is “fit for purpose” following years of concern relating to the manner in which it exercises its investigative powers.

The Lothian Pension Fund has pledged to no longer supply funding through new bond or equity investments to companies not aligned with the Paris Agreement.