Regulation

The assets pension savers are allowed to invest in should be restricted and authorised, to avoid any further scandals like Harlequin, London & Colonial has warned.

The current High Court case regarding pensions liberation does not have the scope to end the practice, a Chancery Division judge has warned.

A high-profile court case to determine whether pension liberation schemes are illegal will begin on 16 July.

The Office of Fair Trading (OFT) has identified several areas of concern in the pensions market and is focusing its investigation on adviser-commission and two-tier member charging structures.

The Pensions Regulator (TPR) is preparing for a high-profile court case against an alleged liberation fraud operation in the hope it will secure a clear ruling that the practice is illegal.

The government's Pensions Bill, which was first introduced in May and is set to reform the UK's state and private pensions, is now taking views from the public before it reaches its final stages in the Commons.

The draft Pensions Bill does not do enough to protect consumers from obtuse and excessive charges, a Conservative MP claims.

The Financial Conduct Authority (FCA) has pledged to scrutinise "the whole value chain" - including authorised advisers and pension companies - as part of efforts to stamp out pension liberation fraud.

The government's response to the National Employment Savings Trust (NEST) restrictions is likely to be addressed in the passage of the Pensions Bill.

Pensions minister Steve Webb is drawing up plans to pool the pension schemes of "big, household-name" companies in a bid to lower charges and boost returns.