The Government must start a national information campaign to highlight the dangers of pension scammers according to MP Stephen Lloyd.
The Liberal Democrat spokesman for works and pensions has issued the call on the back of research from Retirement Advantage which found around one in seven people over the age of 50 with a defined contribution pension scheme have been approached by pension scammers.
Lloyd says more needs to be done to alert those retiring of the dangers of scams, even though a cold calling ban is presently working its way through parliament.
A national information campaign informing consumers of the dangers of pension scams, and the risks of being contacted by methods other than telephone is a necessary addition, he says.
Lloyd says: “It is shocking that almost one in seven people have been placed in danger of penury after being contacted by pension scammers.
“I and my Lib Dem colleagues in the House of Lords have worked to make the cold calling ban as effective as possible.
“But it must be the first step in the process, not the final step, to eradicating the horror of pension scams.”
Lloyd adds: “The government should launch a national information campaign alongside the new legislation to highlight the problem, and examine what other measures may be necessary to prevent people been contacted by other methods.
“Getting this right could be the difference for many of our older citizens between living a decent retirement or not. Consequently I will keep pressing the government to do the right thing.”