The Treasury has confirmed further delay to the pensions cold-calling ban due to ‘technicalities.’
The end of June deadline has been missed as the Treasury confirms regulations around the ban will not be laid before parliament until autumn.
A Treasury spokesman says: “Following debates in parliament, and having considered evidence from the industry, we will launch a short consultation on the draft legislation to ensure it is as effective and robust as possible.”
AJ Bell senior analyst Tom Selby says: “We have been waiting almost two years for the government to back up its tough talk on tackling pension scammers with action. It is therefore hugely disappointing that the cold-calling ban faces further delay as policymakers iron out as yet unspecified ‘technicalities’.”
This week the Liberal Democrats raised concerns the government would miss its end of June deadline.
The regulations must be debated by both Houses of Parliament before they can be passed. The regulations are yet to be published.
Royal London policy director and former pensions minister Steve Webb says: “It is deeply disappointing there is now going to be yet more delay. We don’t want a statement from the government telling us how difficult it is – we want action and action now.”