Source · Select Committees · Work and Pensions Committee
Recommendation 30
30
Not Addressed
Paragraph: 119
Project Bloom is a multi-agency task force set up to tackle pension fraud in 2012.
Conclusion
Project Bloom is a multi-agency task force set up to tackle pension fraud in 2012. It is not a statutory body and receives no dedicated funding. The members of Project Bloom have argued convincingly to us that it has the potential to be an effective body but is restricted by limited resources. The Pensions Regulator and other organisations suggested to us Project Bloom should also be supported by a pension scams hub staffed by officials from the different members of Project Bloom working alongside law enforcement.
Government response summary AI-generated
The government response discusses the role of Independent Trustees (ITs) in recovering assets from scam schemes and the complexities involved, advising against early transfers. It does not address the committee's conclusion regarding Project Bloom's non-statutory status, lack of dedicated funding, or the suggestion of a pension scams hub.
Summary of the government's response below — read the verbatim text to verify.
Paragraph Reference:
119
Government Response
Not Addressed
HM Government · verbatim extract
Not Addressed
We support this recommendation. Project Bloom continues to have a significant role to play. However, the establishment of the NECC has placed inter-agency cooperation on a more formal footing than previously, and the NECC has been successful in coordinating law enforcement efforts and action, including among Project Bloom members. The NECC applies significant focus to investment fraud, of which pension scams are a sub-set. However, alongside other Bloom members, we are considering how enhancements might be made to the current model.
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