Pension cold-calling to be banned from January

A ban, which has been in the works for two years, was announced on Twitter and will come into force on 9 January.

From 9 January, it will be against the law for firms or individuals to call people about pensions out of the blue.

However, it is unlikely that pension cold calls will stop entirely as many fraudsters are based overseas.

But, the ban should underline the fact that any unsolicited pensions-related calls that people receive will not be legal. 

The ban on pension cold-calling has been in the works for more than two years and was first mooted by the government in November 2016.

The long road to the ban has been mired in delays and prevarication.

But now, economic secretary to the Treasury, John Glen MP, has announced the date for the ban of 9 January, through the unusual medium of tweeting it on his Twitter page.

Image of an MP's tweet

In June, Mr Glen was forced to issue a statement as to why the Treasury had not met its deadline to set out plans for the ban.

The government has consistently struggled to put the legislation in place, making this announcement a relief for the potential victims of pension scammers.

We have contacted the Treasury for further details of the ban and will update this article when we receive more information. 

This article was originally written by our sister publication Moneywise.

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