High Court to rule on pension unlocking schemes

The result of a hearing tomorrow will determine what will happen to people who have accessed their retirement savings before the age of 55 if the unlocking services are deemed to be outside the law. In July, The Pensions Regulator (TPR) appointed Dalriada Trustees to run several of these pension reciprocation schemes. The independent trustee firm obtained a £1m freezing order against several schemes linked to a company called Ark, banning disbursement of scheme funds pending a legal probe. Before the regulatory intervention pension reciprocation schemes offered members the chance t...