by Alex Brims on 17 March, 2018
Lib Dems have been campaigning to end cold-calling in relation to pensions, claims management and other financial services.
Alex Brims says well done to those amazing Lib Dem peers have been at it again – winning crucial changes to legislation.
As the Financial Guidance and Claims Bill completes its stages in the Upper House, the Liberal Democrats have secured a significant victory following the government’s acceptance of crucial Liberal Democrats amendments.
Led by John Sharkey, we campaigned in the House of Lords to end cold-calling in relation to pensions, claims management and other financial services.
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.
Stephen Lloyd our Pensions Spokesperson said:
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.
None of this would have been possible without the valiant efforts of Liberal Democrat peers in the House of Lords, led by John Sharkey. 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.