The Treasury, the Department for Work and Pensions and the Department for Culture, Media and Sport are in talks over how to tackle pension cold calling.
Responding to a question for written answer submitted by former pensions minister Ros Altmann, Lord Ashton of Hyde says the three organisations are exploring ways to strengthen the Information Commissioner’s enforcement powers against such companies.
Ashton says: “Specific measures under consideration are; extending the Information Commissioner’s powers of compulsory audit to more of the organisations that generate nuisance calls and exploring the options for enabling the Information Commissioner to hold company directors to account for breaches of the direct marketing rules.”
Altmann also asked why the Government had not banned pensions cold calling yet.
Ashton responds: “We are determined to tackle the scourge of nuisance calls especially those of a fraudulent nature. Our efforts are focused on taking action against companies that are deliberating break the rules, rather than penalising legitimate businesses who comply with the law.”
Altmann’s question came on the back of a petition to ban pension cold calls started by Red Circle Financial Planning director Darren Cooke which now has more than 1,700 signatures.