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24.01.18

The Pensions Regulator successful in £13.7m pension scam case

The Pensions Regulator has won a £13.7m pension scam case in which judgment was handed down on 23 January 2018: Pensions Regulator v Payae Ltd and others [2018] EWHC 36 (Ch). This is the first reported decision concerning the use of the Regulator’s powers under section 16 of the Pensions Act 2004 to claim restitution in respect of occupational pension scheme assets which have been misused or misappropriated. Nicholas Macklam acted for the Pensions Regulator as part of the counsel team (led by Jonathan Hilliard QC).

A copy of the decision can be found here.