TPR needs power to halt suspected fraudulent transfers, report urges

James Phillips
clock • 3 min read

Pension companies must be given the power to trigger an “urgent regulatory response” to savers at risk of fraud, while regulators should be able to override the right to transfer, The People’s Pension and The Police Foundation have said.

Savers' pension pots are more vulnerable since the introduction of the pension freedoms, while £54m of combined savings were targeted by scammers at 13 providers last year alone, the pair said toda...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Law and Regulation

Virgin Media amendments to the Pension Schemes Bill announced

Virgin Media amendments to the Pension Schemes Bill announced

Industry welcomes changes but says they will ‘not be a silver bullet in all cases’

Jonathan Stapleton
clock 02 September 2025 • 1 min read
FCA and TPR urge industry to take proactive steps now to deliver guided retirement

FCA and TPR urge industry to take proactive steps now to deliver guided retirement

Industry must also develop ‘much deeper understanding’ of member needs

Jonathan Stapleton
clock 26 August 2025 • 2 min read
PAG urges MPs to back bill amendment to index pre-97 FAS pension rights

PAG urges MPs to back bill amendment to index pre-97 FAS pension rights

Campaign group says amendment would address ‘major social injustice’

Jonathan Stapleton
clock 26 August 2025 • 2 min read
Trustpilot