Pension Liberation Schemes

Part of Oral Answers to Questions — Work and Pensions – in the House of Commons at 2:30 pm on 11th March 2013.

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Photo of Steve Webb Steve Webb The Minister of State, Department for Work and Pensions 2:30 pm, 11th March 2013

The hon. Gentleman is right. When people transfer money from a pension, they must fill in transfer forms. We have established a “scorpion sting in the tail” information campaign, producing very eye-catching literature which people wishing to transfer their money receive before signing on the dotted line. It is a “buyer beware” measure, and is one of a suite of measures that we are taking to crack down on such fraud.