Stakeholder Update Summer 2013 - The Pensions Regulator

Latest
developments...
Our
member
information
leaflet
‘We need to
make sure that
the action we
take is joinedup,
as decisive
as possible, and
that we limit the
risks of new forms
of pensions scam
emerging’.
Pension liberation
fraud update
The industry has an important role to play in
disrupting this activity, and there has been
an overwhelmingly positive response to our
‘scorpion’ awareness campaign.
We’ve had more than 4,000 visitors to our website
landing page – with frequent downloads of our action
pack, transfer insert and member information leaflet, as
well as a ‘bite-sized’ e-learning module for trustees
and administrators.
We cannot tackle this issue without the help of others and
we work with a cross-government task force looking at
this issue, called Project Bloom. This involves, amongst
others, the new National Crime Agency, the Serious
Fraud Office, the Serious and Organised Crime Agency,
the Financial Conduct Authority, HM Revenue and
Customs, the City of London Police and the Pensions
Advisory Service.
You will probably be aware of the recent raids undertaken
by the City of London Police, supported by staff from
the regulator and other agencies. If you have any
information about pension liberation fraud, please help
us assemble the intelligence picture by reporting your
suspicions to Action Fraud – the central intelligence hub
for Project Bloom.
The pension liberation
landing page on our website
We are also looking carefully at a range of further
options to tackle this issue, but there is no simple
answer or single quick fix. We need to make sure that
the action we take is joined-up, as decisive as possible,
and that we limit the risks of new forms of pensions
scams emerging. These are issues we will take forward
with our Government and Project Bloom partners, and
with the industry.
Go to: www.tpr.gov.uk/professionals/pensionliberation-fraud-professionals.aspx
to find out more
Stakeholder Update Summer 2013
2