Pension industry joins forces to stamp out 'liberation scams'

The Pension Liberation Industry Group, made up of trustees, administrators, lawyers, insurance firms, regulators and consumer representatives, states it is on a mission to protect savers from liberation scams. It said liberation cases reached record levels last year. The government has estimated about £420m of transfers to liberation schemes occurred. Pensions minister Steve Webb has acknowledged the group in a letter to the industry. Members of the group - led by chairman of the Pensions Administration Standards Association and JLT Employee Benefits director Margaret Snowdon - wil...