06.06.2025
We're pleased to confirm that over 2,000 victims of pension scams have received their Fraud Compensation Fund (FCF) compensation.
By working closely with The Pensions Regulator (TPR), The Pensions Ombudsman (TPO) and Dalriada Trustees, a total of £81.5 million in compensation has now been paid to 58 pension schemes, whose members were defrauded by scammers. Members now have access to their pensions.
This follows a 2020 High Court ruling that clarified that occupational pension schemes set up as part of a scam could potentially be eligible for FCF compensation. The FCF continues to work with partners to progress other cases, so further compensation payments may follow to more victims of these particular defrauded schemes.
Our Chief Customer Officer, Sara Protheroe, said, "For these members, losing their pension savings due to the dishonest actions of those they put their trust in will have been a deeply distressing experience. The journey to securing redress can be a very long and complex one.
“So we’re really pleased that members of these schemes will now be able to access their pension savings, following the payment of FCF compensation and securing of benefits.
“We trust this news will bring comfort to members of these schemes and provide assurance that we are making progress on current claims.
“However, we suspect there may still be members of schemes eligible for FCF compensation that haven’t yet come forward. We encourage these members to get in touch so we can help determine if they are entitled to compensation."
You can find out if your pension scheme is being considered for compensation on our list of schemes. If a scheme is not listed but you believe it may be eligible, you can contact us for advice and support.
Read more about this news on the TPR website
