The Money Advice Service has issued a fresh warning over unregulated firms contacting consumers claiming to be representative of the Government or MAS itself.
Last week, the MAS revised details on its site to warn consumers of “fraudsters saying they are from the MAS”.
It says the Budget has sparked an increase in cold-calling from unregulated firms, in some cases saying that they are from the Government or the MAS.
MAS retirement and pensions specialist Jackie Spencer says: “We are very concerned by unregulated firms claiming to be from the MAS contacting consumers and offering pensions advice.
“The service does not offer pension reviews. Anyone receiving unsolicited calls from someone saying they’re from the MAS should treat it as fake, and ring us to report the call.”
Advisers have been critical of unregulated firms contacting consumers in the wake of the Budget and anecdotal evidence suggests there has been a recent spike in the number of firms offering unregulated pension unlocking.
In May, the FCA issued a warning to consumers over unsolicited calls on the back of the Budget.
The regulator said it had seen evidence of cold-callers urging savers to move their pension pot, with the money typically invested in unregulated investments.