Ban on pension cold calls a win for consumers, says Citizens Advice
Citizens Advice has welcomed the Government’s announcement that they will ban cold calls about pensions in order to help protect people from being targeted by pension scammers.
The charity had recommended this action as part of its work on pensions.
Gillian Guy, Chief Executive of Citizens Advice, said:
“Cold calling is a favoured tactic of fraudsters targeting people’s retirement savings.
“Citizens Advice found that as many as 10.9 million people received unsolicited calls, emails and texts about their pensions over the last year. Promises of high returns are used to trick people into fake investments leaving them with a reduced or even empty pension pot.
“The government’s ban on pension cold calls is the right move to protect people. The power to fine scammers also means enforcement bodies will be able to put a stop to any scammers that still target people’s savings.”
Notes to editors
- The Citizens Advice service comprises a network of local Citizens Advice, all of which are independent charities, the Citizens Advice consumer service and national charity Citizens Advice. Together we help people resolve their money, legal and other problems by providing information and advice and by influencing policymakers. For more see the Citizens Advice website.
- The advice provided by the Citizens Advice service is free, independent, confidential and impartial, and available to everyone regardless of race, gender, disability, sexual orientation, religion, age or nationality.
- To get advice online or find your local Citizens Advice in England and Wales, visit citizensadvice.org.uk
- You can get consumer advice from the Citizens Advice consumer service on 03454 04 05 06 or 03454 04 05 05 for Welsh language speakers.
- Local Citizens Advice in England and Wales advised 2.5 million clients on 6.2 million problems in 2014/15. For full service statistics see our publication Advice trends.
- Citizens Advice service staff are supported by more than 21,000 trained volunteers, working at over 2,500 service outlets across England and Wales.