UK Treasury urges savers to talk to an IFA as pension cold calls banned

Pedro Gonçalves
clock • 3 min read

Cold calling about pensions is now banned, with firms facing fines of up to half a million pounds if they make unsolicited phones calls in the UK. Cold-calling has been used by fraudsters trying to steal life savings or persuade people to invest in high-risk schemes. About 240 million scam calls were made last year, with an average of £91,000 stolen per pension scammer victim, the Financial Conduct Authority (FCA) found. However, many scam phone calls originate from abroad, making it di...

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