Savers Duped In 'Pensions Freedom' Con, Watchdog Warns

Law360, London (January 28, 2019, 2:19 PM GMT) -- Criminals have exploited controversial reforms to retirement savings rules to trick two savers out of at least £1 million ($1.3 million) each, the U.K. pensions regulator said Monday.

The retirement savers, who the regulator did no identify, reported the losses to police between July 2016 and June 2018, a spokesman for The Pensions Regulator told Law360. The true number of savers tricked out of similar amounts is likely to be much higher because most victims never contact the authorities, the regulator, known as TPR, said in a statement.

“Victims of scams are often traumatized by what has happened to them, and...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!