Pension transfers will be red flagged and blocked if savers have been approached via social media under stronger anti-scam plans set out by the government today.
The Pensions Regulator (TPR) has agreed a settlement in its anti-avoidance case against the current owners of the bed manufacturer Silentnight.
Police and regulators need greater resources to tackle the rising threat of pension scams, the Work and Pensions Committee (WPC) has been told, so the industry should also play its part in reporting all suspected scam activity.
The Pensions Regulator (TPR) has substantially increased the usage of its powers against trustees – posting a sharp rise in the use of formal information gathering powers and High Court production orders during the three months to the end of September....
Pension scams are not just about the money lost, but the lives devastated, says Nicola Parish, so the industry must unite to defeat this scourge.
Pension scheme trustees and sponsors should only seek to transfer members’ benefits to a defined benefit (DB) consolidator if there is no “realistic prospect of buyout in the foreseeable future”, The Pensions Regulator (TPR) says.
The Pensions Regulator has set out further guidance on its approach to agreed reporting requirements for employers, trustees, pension advisers and providers as they navigate the effects of the COVID-19 pandemic.
The Upper Tribunal has told Dominic Chappell he must pay £9.5m into BHS’ pension schemes after committing actions detrimental to their funding.
The former trustee of a charity for the disabled has pleaded guilty to fraud after transferring more than £250,000 from the organisation’s pension scheme.