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Apr 18 2018

SIPP provider fast growing despite alleged pension scams

SIPP provider Liberty Sipp has reported rapid growth in client numbers despite alleged links to pension scams just a few months ago. The provider said it was its fastest period of growth over the past year, netting them £1.2bn in assets. Open SIPP cases had doubled in the last year,... read more →
Apr 07 2018

Retirees targeted by pension scammers on the rise

New research by Retirement Advantage has revealed that 14% of over-50s who work and pay into a defined contribution pension have been approached in the last three months about investment opportunities or free pension advice. New pension freedoms brought in three years ago mean scammers are becoming more sophisticated in... read more →
Apr 06 2018

New inquiry launched to probe pension freedom fraud risks

The Work and Pensions Committee is to launch an inquiry which will probe if new pension freedoms are working effectively and if changes are needed. It will also look into if enough is being done to prevent scams and mis-selling which has become easier since the new freedoms were introduced.... read more →
Apr 05 2018

Firm prosecuted for illegally opting workers out of pensions

The Pensions Regulator (TPR) is set to prosecute recruitment firm Workchain Ltd, along with its directors and some senior staff, for allegedly opting employees out of their workplace pension illegally. The firm - formerly known as Smart Recruitment UK - allegedly logged into the workplace pension scheme's online system to... read more →
Mar 23 2018

Carey Pensions court case could mean mass wind-up of SIPPs

SIPP provider Carey Pensions is undergoing a court case with SIPP claims worth £3 million. This could change the way SIPP cases are handled in the future. Rival firm Dentons Pension Management warned that the case could lead to providers winding up SIPP operations. Carey Pensions stands accused of working... read more →
Mar 10 2018

Ombudsman rejects financial adviser’s overseas investment claims

The Financial Ombudsman has rejected a compensation claim relating to overseas investments from a SIPP. A pension saver submitted the complaint after he was recommended by Pension Transfers (representative of IFA Kingsway Wealth Management in 2009) to invest money into a block of flats in Cyprus. He says the investment... read more →