As the Financial Guidance and Claims Bill returns to the House of Commons today, the Liberal Democrats have secured a significant victory following the government’s acceptance of crucial amendments tabled by Liberal Democrats peers in the House of Lords.
The Government have now committed to a total ban on pensions cold-calling, as well as prohibitions on other forms of cold-calling if these are shown to be detrimental.
The Lib Dems also secured a provision requiring people accessing their pensions to be referred to guidance, unless they explicitly opt out.
I am delighted that the government has seen reason and moved to clamp down on the scourge of cold-calling.
Every year millions of people are harassed and deceived by cold-callers, and in some cases, the financial consequences can be severe.
These measures will greatly improve the situation, and I will be watching the government closely to ensure they do not backtrack.
Not only did the Lib Dems table and win the amendments that led to today’s ban on cold-calling, they also secured provisions requiring people accessing their pensions to be referred to guidance.
This will ensure that people truly make the best of their hard-earned savings.