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United Kingdom

UK pensions: FCF scam compensation, FCA transfer practices and targeted support proposals, DWP State Pension age review, and guided retirement duty

Published on: 21 August 2025

Published by a LexisNexis Pensions expert
Legal News
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In this issue:

  • Pension scams and liberation
  • Early leavers, transfers and contracting-out
  • Types of pension scheme
  • New content
  • Dates for your diary
  • Trackers

Pension scams and liberation

Fifty-eight workplace pension schemes, serving 2,016 scam victims, secure £81.5m from the FCF

The Pensions Regulator (TPR), working with the Fraud Compensation Fund (FCF), the Pensions Ombudsman (TPO) and Dalriada Trustees Ltd (Dalriada), has confirmed £81.5m in compensation to 58 occupational schemes targeted by scammers, supporting 2,016 victims, with more payments expected in 2025–26 for other historic scam victims. This follows the 2020 High Court decision in Board of the Pension Protection Fund v Dalriada Trustees [2020] EWHC 2960 (Ch), which clarified when the FCF may provide compensation to pension schemes affected by pension scam activity. Those receiving compensation include victims of the Friendly Pensions Ltd fraud, prosecuted by TPR, which resulted in the 2022 convictions of Susan Dalton and Alan Barratt for their part in a £13.7m fraud. Dalriada, an independent trustee appointed by TPR, has additionally managed the recovery and distribution of pension benefits, including £1.5m in death benefits...

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