The Pensions Regulator (TPR) has confirmed that it recently approached the Home Office to discuss the development of a charter for the pensions industry, as part of the government’s fraud strategy.

In an update to the Work and Pensions Committee, TPR executive director of frontline regulation, Nicola Parish, said that TPR is committed to working with the Home Office and its partners within government and industry to disrupt scams and fraud, as well as to pursue fraudsters.

In particular, Parish noted that the government's fraud strategy included plans to develop fraud sector charters, which would be voluntary agreements between industry and government aimed at improving counter-fraud efforts.

Parish suggested that such a charter would build on TPR's existing scams pledge, having recently revealed that "real progress” has been made under the pledge, with more than 600 schemes having now signed up.

In light of this, Parish confirmed that TPR recently approached the Home Office to discuss the development of a charter for the pensions industry, with further updates to be shared "when any developments have been realised".

More broadly, Parish confirmed that TPR is contributing to and "actively supporting" the delivery of the fraud strategy through the Pension Scams Action Group (PSAG)," she continued.

“As part of this multi-agency taskforce led by TPR to combat pension scams, we work closely with organisations such as the National Economic Crime Centre (NECC)," she continued.

“We are part of several working groups designed to focus on fraud and scams, for example the NECC Strategic Governance Group (SSG) which looks to direct the wider response to fraud nationally. Our work with the SGG feeds into the Fraud Strategy.

“The main aim of the SGG is to ensure a joined-up approach to tackling fraud by understanding the problem, the impact of fraud, and enhancing the ability to respond to fraud."

In addition to this, Parish confirmed that TPR is part of other NECC-led working groups that focus on threat assessments and frameworks for improving the assessment of fraud related allegations.

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