Savers will be at "greater risk" from pension scams following a landmark High Court ruling which saw a provider's decision to block a suspicious transfer overturned.
The case, Hughes v Royal London, focused on a £9,000 pension transfer request made in 2014 to a new scheme. Royal London refused the request because it had concerns about the status of the scheme. Hughes' right to transfer was also questioned. Hughes took her case to the Pensions Ombudsman who ruled in favour of Royal London. However, the case was successfully appealed to the High Court. Legal experts say that the judgement, in favour of Hughes, could give rise to "further marketing of dubious schemes on the basis that the legal basis for declining transfers has been brought into q...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
