This event has now taken place but you can watch the video recording of it through our Youtube Channel, get to it by clicking the button below
When
Monday, March 8th from 6:00pm until 8:00pm, UK timeWhere
Online symposium via Zoom.Format
There'll be a great line-up of speakers plus ample scope for discussion and debate.Why you should attend
The keynote speakers for this symposium are the administrators of the Fraud Compensation Fund.
The Fraud Compensation Fund (FCF) was set up in 2005 as a result of the Pensions Act 2004 and the Pension Protection Fund (PPF) has held, managed and applied the Fund since then. It pays compensation to occupational pension schemes which have lost out financially due to dishonesty, if the employer is insolvent or unlikely to continue as a going concern and the pension scheme can’t be rescued.
The FCF has received a number of claims to compensate members of occupational pension schemes that were themselves part of a scam. Pension savers were incentivised to transfer their pension from a genuine occupational pension scheme into these scam schemes. The legislation governing the FCF wasn’t designed with this type of scam in mind, and it wasn’t immediately clear if these schemes were eligible.
However, a recent court case has clarified how to interpret the legislation, and confirmed that under the right circumstances, these types of claims are eligible for FCF compensation, and the core principles that apply.
The PPF’s Director of Strategy and Policy and Director of Scheme Services will explain more about how the FCF operates, and the work underway to process the applications which were waiting for the court’s decision. While not able to go into detail of any individual’s circumstances, they’ll also explain eligibility criteria, how to make a claim and what would happen after a claim had been made.
We are also delighted to have Anthony Arter, the Pensions Ombudsman speaking at this event. Anthony will be explaining the work of the Pensions Ombudsman in relation to pension scams.
Other topics covered will include the Shark and Scorpion scam warnings and reflections from a campaigning scam victim.
Here's the programme and timings so far...
—————————————-6:00pm GMT—————————————-
Welcome to the symposium, introductions and initial exploration of the main issues; by
Andy Agathangelou
Founder, Transparency Task Force; Governor, Pensions Policy Institute; Chair, Secretariat Committee, APPG on Pension Scams; Chair, Secretariat Committee, APPG on Personal Banking and Fairer Financial Services
—————————————-6:15pm GMT—————————————-
Presentation #1, for 20 minutes + 10 minutes Q&A/Discussion by
Sue Rivas
Director of Scheme Services, Pension Protection Fund
David Shaw
Director of Strategy and Policy, Pension Protection Fund
—————————————-6:45pm GMT—————————————-
Presentation #2, for 10 minutes + 5 minutes Q&A/Discussion by
Sue Flood
Head of Fundraising Strategy & Member of TTF’s Advisory Group
—————————————-7:00pm GMT—————————————-
Short leg-stretch and comfort break, for 5 minutes
—————————————-7:05pm GMT—————————————-
Presentation #3, for 10 minutes + 5 minutes Q&A/Discussion by
Anthony Arter
Pension Ombudsman & Pension Protection Ombudsman, Pension Ombudsman
—————————————-7:20pm GMT—————————————-
Presentation #4, for 10 minutes + 5 minutes Q&A/Discussion by
Guy Enright
Recoveries Finance Manager, FSCS
—————————————-7:35pm GMT—————————————-
The “Just a minute”-round
Inspired by the BBC Radio 4 programme, we have asked a selection of our attendees to spend just a minute sharing their thoughts on what has been covered during the symposium. But unlike the Radio 4 programme our speakers won’t be penalised for hesitation, repetition or deviation!
Speakers:
—————————————-7:40pm GMT—————————————-
Open discussion & debate, 15 minutes
—————————————-7:55pm GMT—————————————-
Final conclusions; and suggested next steps and close to the formal proceedings.
However, for those that want it…
8pm GMT until 8:30pm GMT
….informal, unstructured networking and informal conversation; a “fireside chat”
___________________________________________________________________
*The programme will continuously evolve so is subject to change.
Sue Rivas
Director of Scheme Services, Pension Protection Fund
Sue was one of the founder members of the Pension Protection Fund. Having helped to set it up, she went to the Regulator for a couple of years. Coming back to the PPF, she worked on bringing the Financial Assistance Scheme into the PPF, to manage on behalf of the Department for Work and Pensions. Sue’s latest stint at the Pension Protection Fund has lasted for more than 10 years. During this time, she has headed up both the Financial Assistance Scheme team, and Scheme Services, before taking on her current role as Director of Scheme Services. She is responsible for ensuring that schemes transition effectively to the PPF – and that in doing so members get an excellent service and scheme assets are protected – and that applications for compensation from the Fraud Compensation Scheme are handled accurately and effectively.
_________________________________________________________________________________________________________________________________________
David Shaw
Director of Strategy and Policy, Pension Protection Fund
David joined the PPF in 2014, and has been Director of Strategy and Policy since 2016. His role includes end to end responsibility for the pension protection levy (from policy design to invoicing) , as well as for key policy issues including the Fraud Compensation Fund. He was previously a civil servant at the Department of Work and Pensions, with roles spanning labour market policy and private pensions (including responsibility for key provisions of the Pensions Act 2004).
_________________________________________________________________________________________________________________________________________
Anthony Arter
Pension Ombudsman & Pension Protection Fund Ombudsman, The Pension Ombudsman
Anthony Arter is the Pensions Ombudsman and Pension Protection Fund Ombudsman. He was originally appointed in May 2015 for a period of four years. In December 2018, Anthony was reappointed for a further two years until 31 July 2021.
In May 2019, he was elected as the Chair of the Ombudsman Association for the UK and Ireland.
Anthony is a solicitor who has specialised in pensions since 1996. He was Eversheds LLP’s Head of Pensions from 2005 until 2013 and their London Senior Partner 2009 until 2014.
Until 2015 Anthony was an independent member of the Pensions Management Institute Committee overseeing their Accredited Adviser Programme.
He has also been an independent trustee for many years and in December 2018, Anthony was appointed as a pro bono Trustee Director of the Action for Children Pension Fund.
_________________________________________________________________________________________________________________________________________
Guy Enright
Recoveries Finance Manager, FSCS
Guy joined FSCS in 2012, having previously worked in the restructuring teams of Deloitte and KPMG, with a focus on financial services insolvency. He has been in his current role since 2016. FSCS is the UK’s statutory protection scheme for customers of failed financial services companies. Guy leads the Finance team’s input into the recoveries function which seeks to get money back where compensation has been paid and reduces the cost of FSCS to the industry. Guy acts as FSCS’s representative on a number of creditors’ committees of firms which have become insolvent.
_________________________________________________________________________________________________________________________________________
Sue Flood
Head of Fundraising Strategy and member of TTF’s Advisory Group
Sue Flood has worked in the Television Industry since 2001, starting out at Television Centre and progressing through a successful TV programme-making career that included various roles such as Researcher for Top of the Pops, Celebrity Guest Liaison, Location Sourcing, Production Budget, Sales and Promotions (including through BBC Worldwide with responsibility for selling all BBC Programmes to all 130 Global TV Stations Worldwide). More recently, Sue flood has become a key figure in helping to prevent people falling victim to pension fraudsters, having become a victim herself. Sue lost here entire pension fund; along with over 500 other victims of the Ark Pension Scandal. Her response was to set up a campaign group which she has tirelessly supported ever since. She is now also involved in supporting numerous other pension scam victims and pension scam support groups. She has unique insight and experience in the pensions scam prevention and support space and her relentless campaigning has led to interaction with the House of Commons, the House of Lords and the Financial Conduct Authority – watch this space. Sue is also highly supportive of the Transparency Task Force; for which she is a central figure in our Anti-Scams Special Interest Group, an Ambassador and a member of the Transparency Task Force Advisory Board.
