A forthcoming ban on cold-calling pension companies will now include text messages and emails, the government has said. Previously the law was going to include phone calls only.
Only two types of call will now be allowed: companies contacting existing customers about offers, and companies responding to a customer’s request for information.
If you receive any other type of call, you can confidently assume it’s a scam. Other types of cold-calling scams, such as selling mortgages, have already been banned.
Companies breaking the law face fines of £500,000, issued by the Information Commissioner’s Office. However, only companies based in the UK will be affected, so it’s likely that many will move overseas.
The law is a major crackdown on fraudsters who target savers’ retirement funds. Around 3,000 people have been…
