South Wales Central AM, Andrew RT Davies, has welcomed the introduction of the pensions cold calling ban, which came into effect yesterday.
The ban, which has been implemented by the UK Conservative Government, helps to keep people protected and ensure pensioners across the Vale of Glamorgan have dignity and security in retirement.
Companies that make unwanted, unsolicited phone calls to people about their pensions will now face new enforcement action, with fines of up to £500,000.
According to the FCA, pension scammers stole on average £91,000 per victim last year, highlighting that cold callers rob savers of their hard-earned retirement and devastate lives
Welcoming the ban, Andrew RT Davies AM, said:
“Pension scams are despicable crimes, fleecing people of the retirement they’ve earned by doing the right thing, working hard and saving for the future.
“Banning pensions cold-calling will protect people right across the Vale of Glamorgan, and ensure pensioners have dignity and security in retirement.
“This is a welcome move from the UK Conservative Government which will punish callous crooks and ensure fraudsters feel the full force of the law.”