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Gov't speeds up pension cold calling ban

Gov't speeds up pension cold calling ban

The long awaited ban on pension cold callers will be sped through parliament, the government has announced.  

Following a campaign started by Red Circle Financial Planning director Darren Cooke, the government committed to make it illegal for cold callers to ring people up about pensions or investments at the end of 2016. 

Last year the ban appeared to have stalled following the early General Election, which pushed back several pieces of legislation.

An amendment was later introduced in the House of Lords which would have introduced the ban as part of the Financial Guidance and Claims Bill, known as clause 4. However the government said this clause was not detailed or quick enough to meet its objectives. 

In an update published yesterday, the Department for Work and Pensions and the Treasury said it would look to make its own legislation that will introduce a ban 'as quickly as possible' after the Work and Pensions Committee criticised the delays.

'The government will continue to work swiftly to implement a cold calling ban
by tabling a workable amendment to the Financial Guidance and Claims Bill,
and then making regulations to introduce the ban,' the update said. 

 

 

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