Welcome to the Fraud in Pensions Panel

The Fraud in Pensions Panel is a new cross-party initiative bringing together parliamentarians, financial experts, legal professionals, regulators, victims' representatives, and consumer protection advocates to confront a long-running UK financial scandals: pension fraud and its devastating consequences.

Over the past two decades, thousands of people—often misled by professional advisors—have lost their pensions through fraudulent schemes, false promises, and "pension liberation" tactics. Many of these victims were targeted as far back as the early 2000s, yet they are still living with the financial and emotional fallout, as well as tax consequences, today.

The Crisis

Pension scams offered individuals early access to their pension pots, often under false pretences or through deliberately misleading financial advice. Victims were told their actions were legal or approved—when in fact they were entering into high-risk or outright fraudulent arrangements.

Today, many of these individuals are:

•Facing unaffordable HMRC tax bills, including backdated charges, penalties, and interest.

•Suffering in silence, with limited legal or financial support.

• Blamed for the scams they were manipulated into, rather than recognised as victims.

•Denied redress, even as the advisers and promoters who profited from these schemes continue to avoid accountability.

This is not a historical issue—it is a continuing crisis, with real-life consequences still unfolding across the UK.

Our Purpose

 The Fraud in Pensions Panel exists to:

•Expose the full extent and human cost of pension fraud and liberation schemes.

•Push for fairer treatment of victims by HMRC, including a review of tax charges and access to debt relief mechanisms.

•Advocate for an independent redress scheme  to support victims facing hardship.

•Strengthen oversight and regulation to prevent future exploitation of savers.

•Challenge the narrative that victims are solely responsible, and instead focus on the professional misconduct and regulatory failures that enabled widespread harm.

Our Next Steps

The Panel will:

•Publish a briefing paper  outlining the scope of pension fraud, particularly historic liberation scams, and recommend practical policy solutions.

•Engage with HM Treasury, HMRC, and regulators to review tax liabilities that stemmed from fraudulent or mis-sold pension schemes.

•Campaign for the creation of a Fraud Justice Fund to provide support and legal assistance to victims still trapped in financial hardship.

•Work with pension experts and legal professionals to identify patterns of exploitation and provide a platform for victim testimonies.

•Raise public and parliamentary awareness of the lasting damage pension fraud continues to inflict.

A National Opportunity

This is a chance for the UK to lead in righting a long-standing wrong. While many of these scams happened years ago, the consequences have never gone away. The victims—many now approaching retirement—face uncertainty, debt, and distress because they were failed by a system that should have protected them.

We believe the time for silence is over. By acting now, the UK can deliver justice, redress, fair tax treatment and reform—and ensure that no one else has to suffer the same fate.

The Fraud in Pensions Panel is here to lead that change.