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Pension cold-calling to be banned from January

Pension cold-calling to be banned from January

Pension cold-calling will be banned from Wednesday 9 January, in a bid to tackle pension scams.

The new rules mean firms will no longer be able to make unsolicited marketing calls about pension schemes.

Firms found flouting the ban will face enforcement action from the Information Commissioner's Office, and could be fined up to £500,000. 

The Government first mooted a ban in 2017, and confirmed it would go ahead in this year's Budget.   

Treasury Minister John Glen has described cold calling as the "most common method" to begin pension fraud.

He tweeted: "Pensions cold-calling is a scourge, so I was pleased and proud to see Parliament pass a ban on it this week.

"This means the ban will officially come into force on 9th January. Spread the word."

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