Government ministers, regulators and figures from the pensions industry met last month to discuss how to tackle 'pension liberation' fraudsters. The Financial Conduct Authority and the Serious Fraud Office were also at the meeting on 12 September. Pension liberation scams convince people to hand over their pension pot in exchange for early access to the cash, without any explanation of the.
It was announced in this year's Budget that people who bought a with-profits annuity from the Equitable Life Assurance Society before September 1992 - and were aged 60 or older on 20 March 2013 - would receive an ex-gratia payment of £5,000.
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