The UK Treasury has signed into force a statutory instrument banning any unsolicited phone calls for direct marketing purposes in relation to occupational or personal pension schemes.
This means very shortly the ban will become effective and all cold-calls will be illegal. The amendment legislation was signed on 19 December 2018 and will come into force on the 9 January 2019. According to the amendment, “a person must not use, or instigate the use of, a public electronic communications service to make unsolicited calls to an individual for the purpose of direct marketing in relation to occupational pension schemes or personal pension schemes”.
The only exemptions to the amendment are: if the caller is an authorised person or if they are a trustee or a manager of a pension scheme; if the individual being called has given consensus on being contacted via phone calls or if they are a client of the caller and/or did not refuse being contacted for marketing purposes.