Firms to be banned from using cold calling about pensions | City & Business | Finance

Former Tory pensions minister Ros Altmann is spearheading efforts to get the Bill, which will merge advice groups the Money Advice Service, the Pensions Advisory Service and Pension Wise into a single body, amended to include a complete ban on pensions cold calling, which will help highlight rogue operators.

Last month the Government announced plans to ban the practice, but with Brexit dominating the legislative timetable, experts say that it could be years before it gets passed as a standalone piece of legislation.

Altmann said that members of the House of Lords have already made things more difficult for rogue firms by tabling an amendment that requires people to see Pension Wise first before acting on a cold call.

However, she said that they want to go further and are working on introducing a ban.

Despite cross-party support, Baroness Altmann said that Government backing had not been forthcoming: “The Government are resisting this, even though across the house there is total support for getting on with this. It is unbelievable.”

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