More than one third of pension schemes experienced fraud this year as risks to members were increased by the introduction of the April freedoms, according to research by RSM.
The figure is more than double the 17% reported in the firm's last pension fraud risk survey in 2013. The firm said this "dramatic" increase in fraud was worrying, especially as 20% of schemes said...
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter