New law to ban pension cold calls | Shropshire County Pension fund

Shropshire County Pension fund

Taking care of your Local Government Pension in Shropshire

New law to ban pension cold calls

Posted on by Admin-2

Government ministers announced new proposals on the 20th August 2017 to crack down on cold callers targeting pension benefits. There are two major changes. The first is an official ban on cold calls, text messages and emails that target private pensions. The second change will stop people from transferring their private pension pots to companies that are not investing money, sometimes referred to as ‘doormat’ companies.

Legislation is yet to go through parliament but it is thought that this law may come into force as early as Spring 2018.

To help keep yourself safe from pension scams, The Pension Regulator website has some useful advice on things to look out for. Visit: www.thepensionsregulator.gov.uk.

If you are worried that you may have fallen victim to a scam, call The Pensions Advisory Service (TPAS) for free help and advice on 0300 123 1047.

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