Pensions: Fraud

Department for Work and Pensions written question – answered on 17th September 2020.

Alert me about debates like this

Photo of Henry Smith Henry Smith Conservative, Crawley

To ask the Secretary of State for Work and Pensions, how many people have contacted Action Fraud on potential pension scams since the covid-19 outbreak.

Photo of Guy Opperman Guy Opperman The Parliamentary Under-Secretary of State for Work and Pensions

The Government continues to work with Regulators and the Police to prevent scams and this has continued during Covid-19. In the period March – July 2020, 116 reports of pension fraud were received by Action Fraud, compared to 179 for the same period in 2019.

In recognition of the potential impact of Covid-19 on individual’s pensions savings the Department convened a cross-government and regulator group, to closely monitor and respond to any increase in transfers and scams. Regulators, Police and Action Fraud have confirmed that to date no evidence has emerged to demonstrate an increase in either transfers or scams, based on their internal monitoring of the industry. Although this is encouraging Government recognises it needs to continue to monitor and react to the changing environment.

Does this answer the above question?

Yes1 person thinks so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.