Over two million members are in trust-based schemes which either do not measure common data accuracy or fall far short of requirements, The Pensions Regulator (TPR) says.
Pensions firms are calling for a list of registered pension providers in the UK so insurers can crack down on pension liberation scammers operating outside of the law.
The way alleged pension liberation schemes were operated after their inception is evidence they are not occupational pension schemes, a lawyer has argued.
Rachel Dalton says the agonising over the state of DC will last for months
The Pensions Regular (TPR) has been asked not to publish a list of suspected pension liberators over fears it will make those running them harder to catch, Pension Administration Standards Association (PASA) chairman Margaret Snowdon says.
Rachel Dalton outlines the essential changes to TPR’s code of conduct on defined contribution
A ruling that alleged pensions liberation schemes are not occupational schemes would have significant implications for members, a lawyer has argued.
The current High Court case regarding pensions liberation does not have the scope to end the practice, a Chancery Division judge has warned.
The Advertising Standards Authority (ASA) has banned an advertisement for pension liberation targeting public sector members after a complaint from the Greater Manchester Pension Fund (GMPF).
A high-profile court case to determine whether pension liberation schemes are illegal will begin on 16 July.