24th November 2016
The Government will consult on how to ban pension cold calling and a wider range of pension scams. The legislation would become effective from 6 April 2017. Cases would be dealt with by the Information Commissioner’s Office, which could impose fines of up to £500,000.
Jonathan Watts-Lay Director, WEALTH at work comments; “Pension savers getting scammed out of their retirement savings is a real issue. The problem is many of these scams look perfectly legitimate so are not easy to spot. Others offer investment returns which to be fair are too good to be true but people get sucked in. We work with many major employers to help educate their employees on what to look out for and the importance of getting regulated advice. Anything the Government can do to help is welcomed.”
IMPORTANT – External links please read: Virus status
*Contents of links to external websites
Links to websites external to those of Wealth at Work Limited (also referred to here as ‘we’, ‘us’, ‘our’ ‘ours’) will usually contain some content that is not written by us and over which we have no authority and which we do not endorse. Therefore please be aware that we do not accept responsibility for the content of any third party site(s) except content that is specifically attributed to us or our employees and where we are the authors of such content. Nor do we endorse any organisation or publication to which we link and make no representations about them.
Please note that the content of this website including any external articles to which it links are not financial advice and must not be relied upon to make investment decisions. Further, please note that investments can fall as well as rise and that if investing you may get back less than you originally invested.
Subscription only sites
Where we have been quoted in an article or we are the authors of an article held on a third party website we may provide a link to that site, even though it is a subscription only publication. Please note that by doing so we are not advertising the subscription nor are we suggesting that you should subscribe. We are merely providing a link for those people who already have a subscription should they wish to read the article. If you do not have a subscription then often only the first lines of an article may be available to read. You should not rely on that limited content to form a view of what the whole article may say or conclude. Often a headline or an excerpt of an article are not representative of the article in full. Reading a part only and/or out of context may be misleading and must not be relied upon.