The Pensions Regulator
Fraudster families running multimillion pound pension scams
Organised crime groups led by married couples or families are running pension scams worth millions of pounds. Intelligence gathered by members of the multi-agency Project Bloom group, which was set up to tackle pension scams, indicates that a number of “fraudster families” are targeting pension holders. Criminal investigations involving regulators, government agencies and police forces are currently ongoing into a
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TPR action leads to NOW: Pensions overhauling its administration system
Demands from the Pensions Regulator (TPR) for NOW: Pensions to overhaul its administration system, have led to the pension contributions of hundreds of thousands of people being collected and invested. In April 2016, an estimated £18 million of pensions contributions, affecting over 265,000 people, had not been collected by NOW: Pensions. There were ongoing problems with the collection, and also
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Scam victims lose more than £1m each to fraudsters
Some victims of pension scams have lost more than £1 million in savings each to fraudsters, new statistics have revealed. Intelligence gathered by members of the multi-agency Project Bloom group, which was set up to tackle pension scams, has found some people who had managed to put away more than £1 million have lost their retirement funds to criminals. New
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Company chief executive banned from being a trustee
The chief executive of a company that packages some of Britain’s most famous brands has been convicted of refusing to give information to The Pensions Regulator (TPR). Thomas Christopher Wrigley, who was both the CEO and major shareholder of Discovery Flexibles Limited as well as being the chair of trustees for the company’s pension scheme, repeatedly refused to comply with
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Scam awareness campaign prompts tens of thousands of pension holders to seek information
The number of people seeking information about pension scams has soared since the launch of the first joint campaign by the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) this summer. In the 55 days before the launch around 31,000 people visited the ScamSmart website at an average of 562 per day. In the 55 days after the launch
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Milestone for workplace pensions regulation as TPR launches new approach
An increasing number of workplace pension schemes will come under greater scrutiny from The Pensions Regulator (TPR) from next month as part of a significant shift in its approach to protect savers. To reflect major changes in the political, economic and pensions landscape, TPR will be working proactively with more pension schemes through a new range of interventions to address
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Automatic enrolment is business as usual with vast majority of staff now saving
The vast majority of staff across the UK are now saving for their retirement thanks to the success of automatic enrolment. A report published by The Pensions Regulator (TPR) shows workplace saving continues to rise with 84% of employees now saving into a workplace pension, an increase from 77% last year. TPR’s annual commentary and analysis report (PDF, 1693kb, 41 pages),
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Regulators warn public of pension scammer tactics as victims report losing an average of £91,000 in 2017
A new campaign to tackle pension scams has launched as the latest figures reveal that victims of pension scammers lost an average of £91,000 each in 2017. The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) have joined forces to urge the public to be on their guard when receiving unexpected offers about their pension and to check who
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Automatic enrolment is an ongoing process – it does not end with your declaration of compliance
Employers across the UK suspected of providing false or misleading information to The Pensions Regulator (TPR) about how they are meeting their automatic enrolment duties, will now be targeted with short notice inspections. The latest round of spot checks, due to start later this month, will also target employers who are still non-compliant with their automatic enrolment duties despite penalty
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