Crackdown on pension scammers

ALL cold-calling of pensioners is to be banned under UK Government plans to clamp down on scammers.

New figures released today reveal that nearly £5 million of private pension money was taken by criminals in the first five months of this year. That means £43 million is thought to have been stolen since April 2014.

The cold-call ban will go beyond telephone contact to include emails and text messages.

Other measures include tightening HMRC rules to stop scammers opening fraudulent pension schemes and tougher action to halt money being transferred from work schemes into fraudulent ones.

Part of this will be a new law meaning that only active companies can register pension schemes.

Economic Secretary to the Treasury Stephen Barclay said: “It’s utterly unacceptable that people who have worked all their lives to build up a pension pot should be subject to scams which may leave them out of pocket.”

The SNP said the move was long overdue and called on ministers to scrap a law that means women born in the 1950s will miss out on pension money.

An SNP spokeswoman said: “This decision should have been taken by the UK Government long ago.

“It’s disappointing that the Tories have the audacity to make a point of pension injustice when millions of WASPI women who were born in the 1950s are still battling for justice after their pensionable age was increased with little warning from the UK Government.”

Have you been the victim of a pensions scam? If so, call The Sunday Post on 01382 575322.