Work and Pensions Committee report on scams
The Pensions Ombudsman welcomes the Work and Pensions Committee report ‘Protecting pension savers – five years on from the pension freedoms: Pension scams’ and its recommendations for a more joined-up approach to tackling pension scams.
Anthony Arter, Pensions Ombudsman said:
“Pension scams are devastating for people and more must be done not only to prevent them in the first place but also to enable quicker redress for scheme members and the recovery of funds they might otherwise not receive, as well as holding trustees personally accountable. The Pensions Ombudsman investigates complaints about scams and this is the approach we have taken with a number of cases including CAS-30918-M4P3 (Norton MC) where the trustee was found to be personally liable. We work closely with regulators, other bodies and independent trustees and would welcome the opportunity for increased collaboration and powers in the future.”
Related news
- TPO upholds complaint about pension increases promised 18 years agoDate:The Pensions Ombudsman has published its Determination on a complaint concerning a pension scheme member (Mr H) who transferred to the Olivetti UK Limited Pension and Life Assurance Scheme, with promises that his benefits would "mirror" those from his previous scheme.
- Operating Model Review: Reflections on our achievements this yearDate:In the latest in our series of blogs, The Pensions Ombudsman, Dominic Harris, reflects on the organisation’s progress over the last year and updates on the latest developments on our Operating Model Review. He also shares more about our focus on older complex cases, as well as our lead case approach – both examples of how we’re tackling our high caseload.