The advent of the Pension Freedom rules introduced in April 2015 has unfortunately led to an increase in the number of scams seeking to deprive clients of their pension funds.
Following a campaign launched by a Derbyshire-based financial adviser and which was supported by a number of industry bodies and organisations, including Sense Network, the Government confirmed in a consultation paper issued earlier this month that it intends to ban pension cold-calling.
It is intended the ban will cover activities such as “free pension reviews,” offers to release funds early or incentives to put overseas investments in a pension.
Autonomy Wealth View: These offers are usually from unregulated companies and do not provide the protection of the Financial Services Compensation Scheme which applies to regulated advice. If you are in any doubt over any sort of promotion or communication you receive you can tell us, or report it to the Regulator. More information is available at the specialist website set up by the FCA on this subject http://scamsmart.fca.org.uk/