New APPG on pension scams takes up work
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An All Party Parliamentary Group on Pension Scams was established on Monday, and is being led by Bob Blackman, Conservative MP for Harrow East.
“At a time when personal and financial vulnerability is high, attention to the threats to our pensions is welcome and I am pleased to have been elected as Chair of this important All Party Parliamentary Group. I have long been concerned about the approaches of offshore advisers and I believe that this should be the particular focus of the APPG," said Blackman.
“At a time when personal and financial vulnerability is high, attention to the threats to our pensions is welcome and I am pleased to have been elected as Chair of this important All Party Parliamentary Group. I have long been concerned about the approaches of offshore advisers and I believe that this should be the particular focus of the APPG," said Blackman.
He added: "The tightening of regulations in the UK, especially over the transfer of rights from defined benefits pensions has had the usual waterbed effect with the problem shifting to offshore fraud hotspots such as Dubai, Spain, Gibraltar and South Africa, and I look forward to the APPG being a place to give scam victims a representative collective voice.”
The APPG has the support of Stephen Timms, who chairs the Work and Pensions Committee. Timms said: “I welcome the launch of the new APPG on Pension Scams, just as the Select Committee inquiry on Pension Scams is starting. The Group will help to focus attention across Parliament on a topic that has rightly become a major public concern.”
