Source · Select Committees · Work and Pensions Committee
Fifth report: Protecting pension savers—five years on from the pension freedoms: Pension scams
Work and Pensions Committee
HC 648
Published 28 March 2021
Government response
Protecting pension savers–five years on from the pension freedoms: Pension scams: Government, The Pensions Regulator and Financial Conduct Authority Responses to the Committee’s Fifth Report of Session 2019–21 · published 6 Jul 2021
Recommendations & Conclusions
36
Recommendation
Rejected
Para 144
Members of schemes where professional trustees are appointed can face long waits to receive any...
Recommendation
Members of schemes where professional trustees are appointed can face long waits to receive any recovered assets, even if a significant proportion of the assets are recovered. Often because of the costs associated with providing communications to members, which are …
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Government Response Summary
The government rejects the recommendation, explaining that funds are often already dissipated, trust law prevents earmarking, and transferring out early may not be in a member’s best interest or could negatively impact other members.
Department for Work and Pensions
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