Pensions

UK To Ban Private Pensions Cold Calls, Clamp Down on Scams

Law360, London (August 20, 2017, 12:03 AM BST) — The U.K. government announced plans on Sunday to ban private pensions cold calling, as new data revealed that scammers tricked savers out of nearly £5 million ($6.4 million) in the first five months of the year.

The government said it would also tighten the rules governing HM Revenue and Customs to stop scammers setting up fraudulent pensions schemes, and to ensure that only active companies which produce regular, up-to-date accounts are able to register schemes.

“It’s utterly unacceptable that people who have worked all their lives…

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