Pensions - Articles - Pension cold calling ban slips as Government miss deadline

 With Parliament rising for the Summer Recess on 24th July, there is now a real risk that the necessary regulations will not have been debated by that date, delaying implementation of the ban until the Autumn.

 Under pressure from campaigners and opposition parties, the Government tabled an amendment to the Financial Claims and Guidance Bill giving it two options with regard to a ban on cold calling. The first option was to table regulations by the end of June to implement a cold calling ban, and the second was to make a statement by the end of July explaining why the regulations had not been tabled. The government’s amendment now Clause 21 of the Act says that before regulations could be brought into force they would have to be debated by both Houses of Parliament. With the Commons not sitting today (Friday 29th June) it is now impossible for the legislation to be in force in June. It seems likely that the government will now have to make a statement next month explaining the delay. But with the regulations not having even been published so far, the chances of them being published and then debated in Lords and Commons by 24th July are looking increasingly slim.

 Commenting, Steve Webb said: ‘Campaigners had been hoping that the vital final stage in implementing a cold-calling ban would have been completed by now. It is deeply disappointing that there is now going to be yet more delay. With every passing day yet more people are being scammed after a process which started with a cold call. We don’t want a statement from the Government telling us how difficult it is – we want action and action now’.