Pension cold-callers will face tougher sanctions from today as a long-awaited ban poses fines of up to £500,000 for "callous crooks" attempting to scam savers.
Philip Hammond's 2018 Budget speech was entirely devoid of any mention of pensions, but the documents do include some things for the industry to take note of. Professional Pensions rounds up the eight key Budget plans and shortcomings.
The government and the Financial Conduct Authority (FCA) are "keeping under review" suggestions the regulator should update its rules on regulated firms buying leads obtained by cold-calling.
More than half of savers are worried about the government's delay to initiate a ban on cold calling, Aegon says as its research also reveals 91% have received them.
The bill creating a new single financial guidance body and introducing provisions for a ban on pension cold-calling has received Royal Assent today.