Pension scams

The hung parliament means planned measures to mitigate scams will be kicked down the road, the industry has told PP.

The Pensions Regulator (TPR) has banned two trustees after they lost over £15m of members' funds in unregulated investments.

Clarity over the controversial money purchase annual allowance is needed after it was removed from the Finance Bill, according to Pensions Buzz respondents.

Wake-up packs, savers' abilities to shop around, and looking at how to close loopholes for pension scammers will be key priorities for the Financial Conduct Authority (FCA) over the next few years, the watchdog has announced.

Ashley Wilson Solicitors and one of its partners have been fined £16,000 for refusing to give The Pensions Regulator (TPR) documents for an investigation, in the first use of one of its powers.

This week's top stories include reports that a deal for the British Steel Pension Scheme could be very near, while recent falls in life expectancy may not be a blip.

The government is planning to release proposals on pension scams, reducing fees and charges, and improving transparency "very soon", according to Richard Harrington.

Calum Cooper urges schemes to engage with members on defined benefit transfers

The regulator's call to ban transfers to small self-administered schemes (SSASs) to help crack down on scams has received little support from the industry.

'Government campaigns can work'