Government delays clause to outlaw cold calls on pensions

♦ A ban on making cold calls regarding pensions, first pledged by the Government two years ago, has been delayed until the autumn.

Philip Hammond, the Chancellor, had promised to make the calls illegal to stop people falling victim to scams after the introduction of pension freedoms.

It was hoped that a clause in the Financial Guidance and Claims Bill would be completed by the end of this month, but the Treasury wanted more time to ensure the rules were “robust”.

Pensions experts called the news “disappointing”, as savers would continue to be targeted.

A Treasury spokesman said: “We intend to lay the required regulations before Parliament this autumn.”

Sir Steve Webb, a former pensions minister and now head of policy at Royal London, said: “It is totally unacceptable that the Government has introduced yet more delay. In the meantime, thousands more people will be scammed out of their life savings.”