Pensions Liberation

Why and how the Ombudsman must change

PP looks at the options

Two trustee firms connected with suspected pension liberation schemes have been wound up by the High Court following a probe conducted by the Insolvency Service.

Top stories on PP this week include fears over a green paper white wash, the latest Ombudsman decision on transfers, and TPR action on master trusts. Here's the top five.

The Pensions Ombudsman (PO) has dismissed a complaint against Royal London over its decision to turn down a transfer request into a suspected pension liberation scheme.

The Financial Conduct Authority (FCA) is writing to all pension providers requesting data on how customers are accessing their retirement pots in the wake of the pension ‘freedoms' rolled out in April.

The threat of pension scams and the introduction of retirement flexibilities have left pension providers in a "highly unenviable position", warns the director of the Serious Fraud Office (SFO).

The industry is working hard to combat pension liberation but it can only go so far says Helen Morrissey.

The Insolvency Service has made a successful application to the High Court to place two trustee firms linked to pensions scams into provisional liquidation

Andrew Warwick-Thompson argues there is no magic bullet to tackle pension scams and that a combination of education, disruption and enforcement is needed to address the problem.