https://www.gov.uk/government/consultations/pension-scams
As well as a ban on cold calling, the consultation covers:
Limiting the right to transfer to some occupational schemes
Making it harder for fraudsters to open small pension schemes
Tom Selby, senior analyst at AJ Bell, comments:
"On first read, the interventions announced by the Government to tackle pension scams look to have real teeth. By banning cold calling, cracking down on the abuse of small schemes by crooks and handing providers greater power to block suspicious transfers, policymakers have sent a clear message that this looming retirement threat is being taken seriously.
"The Government also appears open to taking further action to deter pensions fraud in the long-term. It is right to do so and radical solutions should be in the frame."
“Savers could, for example, be given early access to their tax-free cash where they can demonstrate financial hardship. People are often lured in by scammers when they are in financial distress, so this safety valve could provide a valuable extra option for those who are struggling to make ends meet.
“A list of permitted investments for Self-invested Personal Pensions (SIPPs) could also be reintroduced. This would make it harder for pensions fraudsters to succeed with scams that are based around ‘too good to be true’ investments that are not on the list.”