Legal & General (L&G) has increased protection against pension liberation outfits after The Pensions Regulator (TPR) and other bodies highlighted the plight of people taken in by such schemes.
The provider said it had put new procedures in place in the way it administers pension transfer requests, which it said would help pick up on any applications from a company suspected as a pension liberation firm. L&G pensions strategy director Adrian Boulding explained: "We have put in place a series of due diligence tests that will enable us to expose the schemes we have concerns about. "We will be asking for a lot more information and evidence from these people before we release our customers' money to them. And unless they provide us with 100% satisfaction, we will be reporting an...
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