News that South Wales police have started an investigation into the pensions goings on in and around Port Talbot, is a major development.

It escalates what was a pensions investigation into a criminal investigation. This could have radical implications for the regulation of DB transfers. Unsurprisingly both the FT and the BBC have given this considerable airplay with their readers and viewers respectively.

This is good news for the steel workers who have been on the end of poor advice and they should be grateful to Al Rush for his continued work doing  the job he has been carrying out these past two months.

Al has now not just blown the whistle, but organised help for impacted steelworkers (Chive). He has now made sure that if money has been stolen, the perpetrators are brought to justice.

Some question whether this is theft. I say that there is nothing so squalid and despicable as stealing money from people who have put their trust in you. This is theft by white collar professionals on blue collar workers and Al is right to call it out. If we have not the courage to do it ourselves, we should have the courage to lend the man support.

Here is Al, in a private post to a group he is acting for (I’ve redacted the name of the police officer leading the investigation as this is a public post, but our thanks should go to her too).

One reason why the group will become tighter. If you think you’ve been the subject of Fraud, tell (the police)

Tell your mates too. It’s vital that as many people as possible exert pressure on the police to investigate.

If you’re apathetic, in twenty years time, an old boy will be sitting in poverty somewhere, because he didn’t know about it and he slipped through the net. …

Your wording can be as simple as something as..

‘Hi, I was advised to transfer out of the `British Steel pension scheme and was lied to when I asked about how much money would be taken from me. I think, over time especially, I will lose many tens of thousands of pounds (probably, low hundreds of thousands of pounds) in fees which were hidden from me.

This will bleed my pot dry, leave me exposed to poverty in old age and create a burden on the local council.

I was also lied to in that it is costing me 5% of my transfer value to leave the scheme, now that I am aware of just how punitive this contract is. I was specifically told there would be no penalties or lock in periods.

Can you help me please, I would like to make a formal statement and help you bring charges against those who did this, and those who helped them’.

Only copy and paste if you think that applies to you – I know your circumstances and think it’s as useful as it can be. Email me on help@chive.org.uk for more help.

There is nothing glamorous about the work Al is doing. This is cleaning the toilets after the night before.

It is easy to forget that Al is doing this with no help from anyone (save those IFAs who have joined Chive) . He has taken it upon himself to clean up the mess and it is good that he is getting the support , not just of the police but of the Financial Times and BBC Wales.

Your work will not be forgotten Al. In years to come, you will be thanked by those you are helping today and by all who want the pensions industry to have the energy and honesty that you have.

God bless you Al.

Al Rush