Operation UTAH Background
NERSOU are presently investigating a pension scheme called BTS WORKPLACE TRUST PENSION FUND (formerly BTS (HOLDINGS) PENSION FUND) where new members were encouraged to join the pension scheme during late 2015 and 2016.
If you believe you have invested in the BTS WORKPLACE TRUST PENSION SCHEME or BTS (HOLDINGS) PENSION SCHEME please send details of your investment and your name, address and contact number using the attached link. Please write the name NERSOU (Operation Utah) in the ‘Additional information’ box:-
Operation UTAH Update
At this time there has been 1 arrest and 14 further people have been interviewed under caution in relation to the ongoing police investigation.
Pension Fraud Background
Since April 2015, UK pension scheme members have been able to access their pension savings in new ways.
The tactics used by pension scammers to encourage people to transfer their pension savings to them is constantly changing. Some of the tactics used by pension scammers include offering free pension reviews, health checks and promises of better returns on their savings, pension loans, upfront cash or other promotions to tempt them. Most of these are bogus. Some scammers are also directing members to transfer their pension savings into small (often one or two member) occupational schemes in an attempt to escape scrutiny from regulators.
If the member is under age 55, they cannot release their pension unless they are in ill health. If members are over 55, they can now release funds from their pension. They may still be at risk from scammers.
The following link to The Pension Regulator website will provide, information and assistance regarding this type of scam.
The Financial Conduct Authority have recently promoted a TV advertisement in relation to this type of offending. Click the following link to view the add.