Private pensions cold calling, including emails and text messages, is to be banned after the government confirmed new measures to protect private pension savers from the threat of pension scams.
The announcement comes as new figures released today show almost £5 million was obtained by pension scammers in the first five months of 2017. It is estimated that £43 million has also been unlawfully obtained by scammers since April 2014, with those targeted having lost an average of nearly £15,000, as scammers try to encourage savers to part with their money with false promises of low-risk, high-return investment opportunities.