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

If that were all we had done, no of course it would not be. Many of the Government’s anti-fraud authorities, including, among others, the Serious Fraud Office, are working with us. One of the challenges is that the money is sometimes transferred overseas, where we have less jurisdiction. However, what we need is trustees not to be transferring money—authorising the transfer of money—out into suspicious pension funds. So trustees have a part to play, as do scheme members.