Monday, April 3rd, 2023, 12:14 am
NOW: Pensions Failing the Victims of Pension Fraud
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3 Months Now…
Creative Commons Attribution-No Derivative Works 4.0
Summary: The crimes of Sirius ‘Open Source’ are being passively tolerated by those who knowingly or unknowingly facilitated them; today we focus again on NOW: Pensions, which is based here in Manchester
THE corrupt company that I left in December is becoming one heck of a hot mess. The pension providers, however, aren’t taking it seriously enough and do not respond fast enough. The video above explains the latest from NOW: Pensions, a company based here in Manchester. Strangely enough neither myself nor my wife (who also left the company in December) can remember ever signing up with this pension provider. No paperwork, no signature, no plan specified. What sort of pension gets offered without even consent being expressed? The whole thing seems rather dodgy. Last night my wife attempted to access the portal, only to discover that they had changed it. She could not get in until she changed her password in a password recovery process. Even then, in the new portal, it wasn’t clear what was signed for (nothing) and how it started. So a company that committed pension fraud for at least 5 years just enrolled staff without giving even the most basic details. One lingering suspicion is that one type of pension fraud was substituted with another in 2016, mayube a case of kickbacks, e.g. the CEO passing workers’ money to an old friend using some scheme managed by a dodgy provider, a serial violator that already paid fines and isn’t providing a good service.
At the end of the day this whole thing bodes rather badly not just for companies that claim they’re “Open Source” (but gradually move away from it) but also for pension providers in the UK. They seem to be somewhat complicit in the scam and even after months of effort, with multiple victims being actively involved, there’s little or no concrete progress. the Pension Regulator isn’t enough to tackle this.
