15 March 2018
The
crack down on cold-calling continues to intensify. The Pensions
Regulator (tPR) in collaboration with the police, recently carried
out a number of investigations into pension schemes that it suspects
are linked to cold-calling firms.
A press release from tPR, announced it has concerns that members have been cold-called in a bid to ‘transfer their funds into poorly-run schemes with the promise of higher returns and cash incentives upfront’.
Mike Birch, director of case management at tPR, said “cold-calling pension holders isn’t illegal yet, but no reputable business does it. We would urge anyone to contact Action Fraud if they are phoned and offered the chance to transfer their pension. Our message is simple – a cold-call about your pension is an attempt to steal your savings.”
The collaboration to undertake joint investigations between tPR and the police comes ahead of the Governments intended changes to legislation to ban cold-calling which is unlikely to take effect until 2020.
If you think you may have been a victim of pension fraud you can contact Action Fraud at www.actionfraud.police.uk or call them on 0300 123 2040.