MPs on the Commons Work and Pensions Committee have urged the Government to ban pension cold calls by June 2018 and to introduce compulsory consumer guidance before pension pots can be accessed.

The DWP will fine pension schemes up to £50,000 if they fail to disclose their fees and charges from April, the DWP announced in a package of proposals today.

The Government is to move ahead with a raft of new measures to ban pension cold calling after a growing campaign to do more to protect consumers.

Guy Opperman MP has been appointed as the new Parliamentary Under Secretary for Pensions and Financial Inclusion.