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

SPP: Covenant assessment under the new funding regime

SPP: Covenant assessment under the new funding regime

Guy Jackson says advisers and employers are now operating under a more structured framework

Guy Jackson
clock 24 March 2026 • 3 min read
House of Lords amendment will add scale test exemption for sub-sized DC schemes

House of Lords amendment will add scale test exemption for sub-sized DC schemes

Amendment will allow TPR to exempt schemes that prove they offer good value to members

Jonathan Stapleton
clock 23 March 2026 • 2 min read
Are administrators doing enough to prepare for dashboards, FCA chief asks

Are administrators doing enough to prepare for dashboards, FCA chief asks

Nikhil Rathi says dashboards could be catalyst for greater engagement with pensions

Jonathan Stapleton
clock 23 March 2026 • 2 min read
Trustpilot