A Simple Way To Stop Pension Scams?

Financial experts are asking the Government to ban telephone “cold calls” about pensions and other investments. A new online petition calls for those telesales calls to be made illegal, in order to reduce the number of “free pension review” scams. They say that these kind of calls usually lead to people being urged to transfer their pension into risky, unregulated investment schemes.

Lovemoney reports

“Fraudsters stole £13.2 million through pension scams last year alone, according to Action Fraud… Meanwhile, a survey by Citizens Advice found that the majority of us aren’t able to spot all scams… Experts don’t expect making these calls illegal will stop them – many of them come from overseas for a start – but it’s hoped it would help get the message across to the public that these calls are dodgy.”