Pension liberation fraud cases rise as 'freedoms' commence

The 758 liberation fraud offences represented the majority of the 863 pension-related fraud cases in 2014, according to data collected by Action Fraud and published by the Office for National Statistics. There were 78 cases recorded as ‘pension fraud committed on pensions'. The number of liberation cases was marginally higher than in 2013, when 719 offences were recorded, while 'pension liberation' was not recorded separately the previous year. The introduction of pensions freedom in April - which permitted savers aged over 55 unprecedented access to their defined contribution pension...