Several people have been arrested on allegations of auto enrolment fraud, it has been announced.
The arrests of six people from the Nottingham and Derby areas are the first of their kind and were made as part of a joint operation between Derbyshire and Nottinghamshire police, the Pensions Regulator and the Employment Agency Standards Inspectorate.
Three men and a woman were arrested at a Derby-based business in early November and a 31-year-old woman was arrested at a Derby police station. A 35-year-old man was also arrested at a business premises in Nottingham City Centre.
The FTAdviser reported that the arrests formed part of an on-going criminal investigation into auto enrolment fraud relating to workplace pensions and underpaying staff.
"According to the TPR's latest 'perceptions report', 13 per cent of scheme members felt that they were not aware of pension scams at all." it said. Despite this, one fifth of 'relevant audiences' including trustees and pension scheme managers have experience of pension scams.
Kevin Wesbroom, Principal Consultant at Aon Hewitt commented: "Pension scams are one of the fastest growing sectors of the UK economy, especially in light of the Pensions Freedoms introduced in the 2014 Budget. All arms of government - DWP, Treasury, FCA, Pensions Regulator - are acutely aware of the need to control these scams, and have engaged with pension providers, administrators and employers to play their part."
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