Pension fraud crackdown: Scammers face 7 YEARS in prison and £1m fines

Scammers caught trying to trick savers out of their pension pots could be jailed for up to seven years, the Work and Pensions Secretary told MPs yesterday. They could also face civil penalties worth up to £1million under new Government legislation. Therese Coffey set out tough new punishments proposed for fraudsters preying on retirement funds during a Commons debate on the Government's Pension Scheme Bill. »