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Rogue pension and finance companies closed down after abusing millions of pounds

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Rogue pension and finance companies closed down after abusing millions of pounds

 

Six pension and finance companies have been wound up in the high court after they were used to abuse millions of pounds of people’s savings.

 

Fast Pensions Ltd and five other related firms have been wound up in the public interest at the High Court on 30 May 2018. The Official Receiver in the Public Interest Unit (North) is now the liquidator of all six companies.

 

Between 2012 and 2013, 520 people were encouraged to transfer their pension savings from existing providers into one of 15 schemes, with Fast Pensions acting as the sponsoring employer.

 

FP Scheme Trustees Ltd (FPST) was the trustee of all 15 pension schemes and a proportion of the funds were invested in the remaining four related finance companies.

 

READ MORE HERE: https://www.gov.uk/government/news/rogue-pension-and-finance-companies-closed-down-after-abusing-millions-of-pounds


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