The Pensions Regulator has replaced 35 trustees over the past two years in its efforts to thwart pension scams.

Speaking to BBC Radio 4’s You and Yours programme, TPR interim chief executive Stephen Soper said this winter a report on one such pension scheme will be published.

“We are bound by the amount of restricted information we hold and we can only publish it when a case concludes,” he said.

“The Regulator is trying to get members to be aware of the risks that are out there. We are working with existing schemes to provide members with information at the point that they seek a transfer. So when they ask for their money and want to move it somewhere else, pension schemes and trustees are providing those members with all the info they need to help identify whether the offer they are receiving is right and proper."

Minister for Pensions Steve Webb said “any time people get ripped off is cause for concern as we want more people saving for pensions”.

“We’re giving people new freedoms next year so it is vital we restore confidence. A number of things are changing and one example is that last month HMRC changed their rules on who can set up a pension scheme. People must now pass a fit and proper persons test to be able to register a pension scheme.

“The last government decided lots of people should be allowed to set up many pension schemes and relaxed all the rules. I believe that was a mistake.”

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