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UK pensions weekly: TPR anti-fraud and bulk annuity sustainability; FRC maintains AS TM1; IFS small pots consolidation; data-matching for dashboards; PLSA on LISA; 2025 public service indexation

Published on: 13 February 2025

Published by a LexisNexis Pensions expert
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The Pensions Regulator

TPR strengthens anti-fraud initiatives to combat pension scams

In a new blog post, The Pensions Regulator (TPR) details upgrades to its anti-scam work, prioritising richer intelligence gathering and closer cross-agency cooperation. Through the multi-million-pound ScamSmart campaign with the Financial Conduct Authority (FCA), and creative moves such as the pension-scam storyline on BBC’s EastEnders, TPR has warned millions of savers about scam risks. Its Pledge to combat pension scams has likewise raised industry expectations, with schemes covering millions of members committing to stronger prevention steps. In concert with partners, TPR’s anti-fraud efforts span prevention, disruption and sanctions, underpinned by stronger legislation, the dismantling of fraudulent business models, prosecution of offenders, seizure of assets and the barring of trustees. By sharpening the national intelligence picture, TPR supports sound policy-making and swift, cost-effective action. To deliver this, in 2024 TPR built deeper, senior-level strategic partnerships across key Pension Scams Action Group (PSAG) members. Together, these steps are reducing harms and deterring offenders across the pensions landscape and reinforcing trust among savers...

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