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1237539

registered interest
date	24/09/2020
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Pensions: Fraud
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, what steps the Government is planning to take to increase public awareness of the risks of pension scams.
tabling member constituency	Airdrie and Shotts
tabling member printed	Neil Gray
uin	95087
answer	answer is ministerial correction date of answer 29/09/2020 answer text <p>The Government is committed to safeguarding consumer savings. The Government is raising public awareness of scams through ongoing communications directly from DWP and with other organisations.</p><p> </p><p>Joint and independent communications from the FCA and tPR spelling out the dangers, what to watch out for and giving clarity to trustees and providers on the boundaries between guidance and advice have been issued since April this year (<a href="https://www.fca.org.uk/news/press-releases/covid-19-savers-stay-calm-dont-rush-financial-decisions" target="_blank">https://www.fca.org.uk/news/press-releases/covid-19-savers-stay-calm-dont-rush-financial-decisions</a>). Prior to Covid-19 the FCA and tPR conducted regular campaigns, through the ScamSmart branding, to raise awareness of pension scams and what to watch out for, these have been deemed very successful, over 222,000 visited the ScamSmart website to find out how to identify a scam scheme as a result of the most recent pre Covid campaign, July – November 2019.</p><p> </p><p>In addition, Government is actively monitoring the numbers of transfers and scams and preparing further policy responses. At the onset of the covid-19 pandemic, the Department convened a cross-government and regulator group to closely monitor and respond to any increase in transfers and scams. The group includes DWP, HMT, both the Pensions Regulator and the FCA as well as the Money and Pensions Service and the Pension Ombudsman. All of the participating organisations have confirmed that to date no evidence has emerged of an increase in either transfers or scams, based on their internal monitoring of the industry.</p><p> </p><p>DWP continues to communicate regularly on social media to set out the warning signs of a scam and has made multiple posts referencing Pension Scams and #ScamSmart in total across Twitter, Facebook and LinkedIn in the period March to September 2020.</p><p> </p><p>The Pension Schemes Bill was amended by Government in the House of Lords to add to the example conditions that can be placed on the statutory right to transfer by regulations. This amendment makes it explicit that the regulations can require that in certain circumstances the member demonstrates they have taken information or guidance before the transfer can proceed to ensure they are informed of the risks.</p><p> </p><p>The Government wants to support all pension savers aged 50 and over in the lead up to accessing their pension savings, to make informed choices about their retirement income, which includes making them aware of Pension Wise through communications from their pension scheme trustees. We intend introducing Single page summary and single page risk warnings from age 50 and then every 5 years until the point they access their pension savings.</p><p> </p><p>The Money and Pensions Service (MaPS) conducted trials to establish different ways to encourage more people to take Pension Wise guidance before accessing their pension savings under Pension Freedoms. These trials found that a nudge developed using behavioural science principles significantly increased take-up of Pension Wise guidance among those wishing to access their pension savings under pension freedoms. The evaluation report was published in July 2020. We are working to develop the most effective and proportionate way to implement this nudge to pension guidance. We intend to publish our proposed way forward shortly.</p><p>In addition we have banned cold calling and seek to provide and prosecute and publicise the convinction of all who comitt pension scams.</p> answering member constituency Hexham answering member printed Guy Opperman question first answered 29/09/2020 15:36:14 answering member 4142 label Biography information for Guy Opperman
tabling member	4365 label Biography information for Neil Gray

1237540

registered interest
date	24/09/2020
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Pensions: Fraud
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, what assessment her Department has made of the potential merits of implementing a training programme for pension and finance professionals to help ensure they can readily identify scam risks.
tabling member constituency	Airdrie and Shotts
tabling member printed	Neil Gray
uin	95088
answer	answer is ministerial correction date of answer 29/09/2020 answer text <p>The Government is committed to safeguarding consumer savings. The Government is raising public awareness of scams through ongoing communications directly from DWP and with other organisations.</p><p> </p><p>Joint and independent communications from the FCA and tPR spelling out the dangers, what to watch out for and giving clarity to trustees and providers on the boundaries between guidance and advice have been issued since April this year. Prior to Covid-19 the FCA and tPR conducted regular campaigns, through the ScamSmart branding, to raise awareness of pension scams and what to watch out for, these have been deemed very successful, over 222,000 visited the ScamSmart website to find out how to identify a scam scheme as a result of the most recent pre Covid campaign, July – November 2019.</p><p> </p><p>In addition, Government is actively monitoring the numbers of transfers and scams and preparing further policy responses. At the onset of the covid-19 pandemic, the Department convened a cross-government and regulator group to closely monitor and respond to any increase in transfers and scams. The group includes DWP, HMT, both the Pensions Regulator and the FCA as well as the Money and Pensions Service and the Pension Ombudsman. All of the participating organisations have confirmed that to date no evidence has emerged of an increase in either transfers or scams, based on their internal monitoring of the industry.</p><p> </p><p>Please see links below for more information about the joint statement from Regulators and the Money Advice Service, and help available, produced by the Pension Protection Fund and supported by government.</p><p><a href="https://www.fca.org.uk/news/press-releases/covid-19-savers-stay-calm-dont-rush-financial-decisions" target="_blank">https://www.fca.org.uk/news/press-releases/covid-19-savers-stay-calm-dont-rush-financial-decisions</a></p><p><a href="https://www.ppf.co.uk/sites/default/files/file-2020-05/COVID-19-and-your-pension.pdf" target="_blank">https://www.ppf.co.uk/sites/default/files/file-2020-05/COVID-19-and-your-pension.pdf</a></p><p>DWP continues to communicate regularly on social media to set out the warning signs of a scam and has made 18 posts referencing Pension Scams and #ScamSmart in total across Twitter, Facebook and LinkedIn in the period March to September 2020.</p><p> </p><p>The Pension Schemes Bill was amended in the House of Lords to add to the example conditions that can be placed on the statutory right to transfer by regulations. This amendment makes it explicit that the regulations can require that in certain circumstances the member demonstrates they have taken information or guidance before the transfer can proceed to ensure they are informed of the risks.</p><p> </p><p>The Government wants to support all pension savers aged 50 and over in the lead up to accessing their pension savings, to make informed choices about their retirement income, which includes making them aware of Pension Wise through communications from their pension scheme trustees. We intend introducing Single page summary and single page risk warnings from age 50 and then every 5 years until the point they access their pension savings.</p><p> </p><p>The Money and Pensions Service (MaPS) conducted trials to establish different ways to encourage more people to take Pension Wise guidance before accessing their pension savings under Pension Freedoms. These trials found that a nudge developed using behavioural science principles significantly increased take-up of Pension Wise guidance among those wishing to access their pension savings under pension freedoms. The evaluation report was published in July 2020. We are working to develop the most effective and proportionate way to implement this nudge to pension guidance. We intend to publish our proposed way forward shortly.</p><p> </p><p>We will continue to work collaboratively with organisations and regulators to look at all interventions which can better protect savers.</p> answering member constituency Hexham answering member printed Guy Opperman question first answered 29/09/2020 15:51:17 answering member 4142 label Biography information for Guy Opperman
tabling member	4365 label Biography information for Neil Gray

1237541

registered interest
date	24/09/2020
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Pensions: Fraud
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, if she will provide a breakdown of the types of pension scams that have occurred since the start of the covid-19 outbreak.
tabling member constituency	Airdrie and Shotts
tabling member printed	Neil Gray
uin	95089
answer	answer is ministerial correction date of answer 02/10/2020 answer text <p>DWP is working across government and with regulators to monitor and respond to any increases in transfers or pension scams. To date, this monitoring has revealed little evidence to demonstrate an increase in either transfers or scams across the industry as a whole as confirmed by the independent regulator. This has been confirmed by responses from industry. The Government will continue to monitor and respond to any emerging evidence.</p><p> </p><p>The Government established Project Bloom, a cross-government taskforce that brings together law enforcement, government and industry to share intelligence, raise awareness of and the reporting of scams through public communication campaigns, and take enforcement action where appropriate.</p><p> </p><p>Please see links below for more information about the joint statement from Regulators and the Money Advice Service, and help available, produced by the Pension Protection Fund and supported by government.</p><p><a href="https://www.fca.org.uk/news/press-releases/covid-19-savers-stay-calm-dont-rush-financial-decisions" target="_blank">https://www.fca.org.uk/news/press-releases/covid-19-savers-stay-calm-dont-rush-financial-decisions</a></p><p><a href="https://www.ppf.co.uk/sites/default/files/file-2020-05/COVID-19-and-your-pension.pdf" target="_blank">https://www.ppf.co.uk/sites/default/files/file-2020-05/COVID-19-and-your-pension.pdf</a></p><p> </p><p>The Government continues to work with Regulators and enforcement agencies to prevent scams and take appropriate action. In the period March - July 2020, 116 reports of possible pension fraud were received by Action Fraud, compared to 179 for the same period in 2019.</p><p> </p><p>Project Bloom has identified that the methodology of scammers is continually evolving, moving away from the traditional type of theft of peoples pensions through setting up a sham scheme, towards investment related fraud. Investment related fraud includes persuading individuals to invest in ventures that do not exist or using multiple charging structures that the member is not aware of.</p> answering member constituency Hexham answering member printed Guy Opperman question first answered 02/10/2020 13:56:13 answering member 4142 label Biography information for Guy Opperman
tabling member	4365 label Biography information for Neil Gray

1232974

registered interest
date	09/09/2020
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Pensions: Fraud
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, with reference to the finding of the Financial Conduct Authority that pension scammers take on average £91,000 from each of their victims, what assessment her Department has made of additional protections required to protect UK pensioners (a) in the UK and (b) overseas from pension transfer scams.
tabling member constituency	Weaver Vale
tabling member printed	Mike Amesbury
uin	87643
answer	answer is ministerial correction date of answer 22/09/2020 answer text <p>Action was taken by the Pension Regulator, Financial Conduct Authority, and Money Advice and Pension Service on 7 April pointing to the actions members should seek to take to safeguard against becoming victims of scams. Additional guidance was issued to trustees, and providers from both The Financial Conduct Authority and the Pensions Regulator to support them to produce suitable communications during the Covid-19 outbreak.</p><p> </p><p>Please see links below for more information about the joint statement from Regulators and the Money Advice Service, and help available, produced by the Pension Protection Fund and supported by government.</p><p> </p><p><a href="https://www.fca.org.uk/news/press-releases/covid-19-savers-stay-calm-dont-rush-financial-decisions" target="_blank">https://www.fca.org.uk/news/press-releases/covid-19-savers-stay-calm-dont-rush-financial-decisions</a></p><p> </p><p><a href="https://www.ppf.co.uk/sites/default/files/file-2020-05/COVID-19-and-your-pension.pdf" target="_blank">https://www.ppf.co.uk/sites/default/files/file-2020-05/COVID-19-and-your-pension.pdf</a></p><p> </p><p>All of Government is committed to safeguarding consumer savings amongst those based in the UK and living overseas with UK based pension savings. We have adopted a layered approach building from interventions to assist all pension savers seeking to access their pensions to those who are most at risk of scams.</p><p> </p><p>For all pension savers aged 50 and over, in the lead up to accessing their pension savings, our aim is to support them make informed choices about their retirement income. We are therefore committed to replicating measures introduced by the FCA for contract based schemes for occupational pension schemes and requiring trustees to provide information to pensions savers from the age of 50, in a simpler format, to encourage savers to think about their retirement savings, choices and raise awareness of Pension Wise.</p><p> </p><p>We want to encourage savers with to take appropriate guidance (currently provided by MAPS under the Pension Wise brand) when they exercise their Pension Freedoms by applying to access savings. Recent trials showed a nudge to guidance during the application process is effective. We want to present taking guidance as a natural part of the journey when individuals access their pension savings. We are working with the FCA on rules that would require managers of private pension schemes to Introduce parallel provisions.</p><p> </p><p>Although the majority of transfers are to safe destinations there are still fraudsters who try to entice individuals to transfer to schemes for the purposes of relieving them of their pension savings.</p><p>To help protect people from pension scams, government has introduced an amendment to clause 125 in the Pension Schemes Bill 2020 limiting the statutory right to transfer The clause achieves two things:</p><p> </p><ul><li>it meets the Government’s third commitment in the Pension Scams consultation, namely to introduce in legislation provisions that enable members to be required to provide evidence of an employment link or, if transferring abroad, residency before a statutory transfer can take place; and</li><li>it enables legislation to require people to confirm they have received information or taken guidance about the risk of scams in certain circumstances before a transfer can proceed. We are and will continue to work with industry and regulators to identify the circumstances that cause trustees most concern when a transfer request is received and set those out in the legislation. Where any of these circumstances are identified we will require members seeking to transfer to confirm to trustees that they have obtained information or guidance on the risks of transfer to scam schemes.</li></ul><p> </p><p>In addition, the Government, working with the regulators and the Money and Pension Service, has been communicating with pension savers to alert them to the risk of scams in the current climate. DWP continues to communicate regularly on social media about the warning signs of a scam.</p> answering member constituency Hexham answering member printed Guy Opperman question first answered 22/09/2020 12:31:04 answering member 4142 label Biography information for Guy Opperman
tabling member	4667 label Biography information for Mike Amesbury

1233027

registered interest
date	09/09/2020
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Pensions: Fraud
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, what assessment her Department has made of the potential increase in pension scams since the covid-19 outbreak.
tabling member constituency	Crawley
tabling member printed	Henry Smith
uin	87524
answer	answer is ministerial correction date of answer 17/09/2020 answer text <p>Through Project Bloom, DWP works with other government departments, regulators, enforcement agencies and the pensions industry to monitor the evolution of scam typology and respond with a collective and coordinated response. Project Bloom is examining the range of measures that all agencies including providers and financial professionals could take to help prevent scams.</p><p> </p><p>At the onset of the covid-19 pandemic, the Department convened a cross-government and regulator group to closely monitor and respond to any increase in transfers and scams. The group includes DWP, HMT, both the Pensions Regulator and the FCA as well as the Money and Pensions Service and the Pension Ombudsman. This is supported by cross government and regulator gathering, monitoring and evaluating of data in order to develop as complete and robust a picture as possible. At this point the Department doesn’t yet have any robust evidence showing an increase in pension scams activity but will continue to monitor across the industry.</p><p> </p><p>In addition to active monitoring, the Government, working with the regulators and the Money and Pension Service has been communicating with pension savers to alert them to the risk of scams in the current climate. DWP continues to communicate regularly on social media out the warning signs of a scam. A <a href="https://www.fca.org.uk/news/press-releases/covid-19-savers-stay-calm-dont-rush-financial-decisions" target="_blank">joint statement</a> was issued by The Pension Regulator, Financial Conduct Authority, and Money Advice and Pension Service on 7 April pointing to the actions members should seek to take to safeguard against becoming victims of scams. Additional guidance was issued to trustees, and providers from both The Financial Conduct Authority and the Pensions Regulator to support them to produce suitable communications during the Covid-19 outbreak.</p><p> </p><p>Please see links below for more information about the joint statement from Regulators and the Money Advice Service, and help available, produced by the Pension Protection Fund and supported by government.</p><p> </p><p><a href="https://www.fca.org.uk/news/press-releases/covid-19-savers-stay-calm-dont-rush-financial-decisions" target="_blank">https://www.fca.org.uk/news/press-releases/covid-19-savers-stay-calm-dont-rush-financial-decisions</a></p><p> </p><p><a href="https://www.ppf.co.uk/sites/default/files/file-2020-05/COVID-19-and-your-pension.pdf" target="_blank">https://www.ppf.co.uk/sites/default/files/file-2020-05/COVID-19-and-your-pension.pdf</a></p> answering member constituency Hexham answering member printed Guy Opperman question first answered 17/09/2020 15:35:38 answering member 4142 label Biography information for Guy Opperman
tabling member	3960 label Biography information for Henry Smith

1233030

registered interest
date	09/09/2020
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Pensions: Fraud
house id	1
legislature	25259 pref label House of Commons
question text	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.
tabling member constituency	Crawley
tabling member printed	Henry Smith
uin	87526
answer	answer is ministerial correction date of answer 17/09/2020 answer text <p>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.</p><p> </p><p>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.</p> answering member constituency Hexham answering member printed Guy Opperman question first answered 17/09/2020 11:08:01 answering member 4142 label Biography information for Guy Opperman
tabling member	3960 label Biography information for Henry Smith

1233035

registered interest
date	09/09/2020
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Pensions: Fraud
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, what discussions her Department has had with HMRC on its investigation of tax rule breaches arising from pension scams.
tabling member constituency	Crawley
tabling member printed	Henry Smith
uin	87529
answer	answer is ministerial correction date of answer 17/09/2020 answer text <p>Tax liabilities relating to unauthorised payments and HMRC’s investigation of tax rules arising from pension scams are the responsibility of HMT. DWP will continue to work closely with HMRC to understand their position and how these may impact the Pensions Schemes Bill and savers.</p><p> </p><p>Government continues to work with regulators and industry to protect consumers and find the best ways of preventing pension scams. HMRC and DWP have held regular discussions relating to the enhanced protection measures in the Pension Scheme Bill 2020.</p> answering member constituency Hexham answering member printed Guy Opperman question first answered 17/09/2020 10:54:22 answering member 4142 label Biography information for Guy Opperman
tabling member	3960 label Biography information for Henry Smith

1233037

registered interest
date	09/09/2020
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Pensions: Fraud
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, what discussions her Department has had with (a) pension regulators, (b) pension providers and (c) HMRC on encouraging victims of pensions scams to report that scam.
tabling member constituency	Crawley
tabling member printed	Henry Smith
uin	87530
answer	answer is ministerial correction date of answer 17/09/2020 answer text <p>Through Project Bloom, DWP works with other government departments, regulators, enforcement agencies and the pensions industry to monitor the evolution of scam typology and respond with a collective and coordinated response. Project Bloom is examining the range of measures that all agencies including providers and financial professionals could take to help prevent scams.</p><p> </p><p>DWP consistently works with other organisations to raise awareness of pension scams and encourage reporting, including regular campaigns, from the Financial Conduct Authority and the Pensions Regulator, conducted through the ScamSmart branding. Alongside promoting what to look out for to recognise a pension scam, the ScamSmart campaigns and website encourage people to report when they think they have been scammed. These messages are proving effective, in the most recent campaign prior to Covid-19, June to September 2019 over 222,000 visited the ScamSmart website to find out how to identify a scam scheme and report a scam.</p><p> </p><p>The Government, working with the regulators and the Money and Pension Service communicates with pension savers to alert them to the risk of scams in the current climate. DWP continues to communicate regularly on social media to set out the warning signs of a scam and has made 18 posts referencing Pension Scams and ScamSmart in total across Twitter, Facebook and LinkedIn in the period March to September 2020.</p><p> </p><p>A <a href="https://www.fca.org.uk/news/press-releases/covid-19-savers-stay-calm-dont-rush-financial-decisions" target="_blank">joint statement</a> was issued by The Pension Regulator, Financial Conduct Authority, and Money Advice and Pension Service on 7 April pointing to the actions members should take to help safeguard against scams. Additional guidance was issued to trustees, and providers from both The Financial Conduct Authority and the Pensions Regulator to support them to produce suitable communications during the Covid-19 outbreak.</p><p> </p><p>Please see links below for more information about the joint statement from Regulators and the Money Advice Service, and help available, produced by the Pension Protection Fund and supported by government.</p><p> </p><p><a href="https://www.fca.org.uk/news/press-releases/covid-19-savers-stay-calm-dont-rush-financial-decisions" target="_blank">https://www.fca.org.uk/news/press-releases/covid-19-savers-stay-calm-dont-rush-financial-decisions</a></p><p> </p><p><a href="https://www.ppf.co.uk/sites/default/files/file-2020-05/COVID-19-and-your-pension.pdf" target="_blank">https://www.ppf.co.uk/sites/default/files/file-2020-05/COVID-19-and-your-pension.pdf</a></p> answering member constituency Hexham answering member printed Guy Opperman question first answered 17/09/2020 15:48:25 answering member 4142 label Biography information for Guy Opperman
tabling member	3960 label Biography information for Henry Smith