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Pension cold callers could face £500,000 fines


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Cold calls offering exotic investment opportunities to people cashing in their pension pots will be banned under government plans.

 

Ministers estimate eight [problem] calls are made every second to UK residents, leading to an annual loss of £19m.

 

Advice services and legitimate companies said such calls had "plagued" the pensions world for years.

 

The ban, which could be enforced with fines of up to £500,000, would not cover texts and emails.

 

However, the government will gather views on extending the proposed ban to all electronic communications.

 

 

http://www.bbc.co.uk/news/business-38029133

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