I have today laid before Parliament a Ministerial Statement to set out government progress on the ban on pensions cold calling, as required under the Financial Guidance and Claims Act 2018.
Pensions cold calling is an important and complex issue. Pensions scams can have devastating consequences and cold calling is the most common method used to initiate pensions scams, so the government has taken the time to ensure the ban works for consumers. The government will imminently publish a consultation seeking views on a set of draft regulations to ban pensions cold calling. Once we have considered all responses to the consultation, in the Autumn we intend to lay regulations under the affirmative procedure and subject to parliamentary approval bring the regulations into force as soon as possible thereafter.
This statement has also been made in the House of Lords