Two men were sentenced to jail after luring 16 victims into transferring nearly £1m of their pensions into a non-existent occupational scheme in an "elaborate" liberation scam.
The partners in crime were Anthony Locke, who was found guilty of 23 counts of fraud by false representation and three counts of money laundering, and his employee, Ray King, found guilty of 14 counts...
The Pension Regulator’s (TPR) strengthened powers under the Pension Schemes Bill could lead to a revival of its clearance process, according to advisers and lawyers.
The long-debated Pension Schemes Bill has received parliamentary approval, guaranteeing its place on the statute book.
Some £20.1bn of defined benefit (DB) pensions were advised to transfer between 2018 and 2020, while £10.2bn were recommended not to transfer, Financial Conduct Authority (FCA) data reveals.
Pension trustees will have much more involvement in business discussions and corporates will need to think more about pensions when the watchdog’s increased powers come into force, LCP says.
Mediation has been under-utilised historically as a means of dispute resolution in this area. Mark Blyth and Geoff Egerton think this is going to change.