Delays in cold-calling ban and pensions dashboard down to Brexit - Aegon

The government delays in implementing the cold-calling ban and the pensions dashboard are consequences of the Brexit process, Aegon has said.

The comments come as an Aegon survey of 800 consumers found that 79 per cent of people are concerned that the implementation of other important policies are being overridden by Brexit negotiations.

Last week, the long-anticipated pensions dashboard project was put in jeopardy after reports that the Secretary of State for Work and Pensions Esther McVey was looking to “kill off” the platform, while the government also announced it would be launching a second consultation on a pensions cold-calling ban, a month after regulations around a ban were set to be implemented.

Baroness Ros Altmann said: “I am so concerned about the delays and cancellations of absolutely vital policy initiatives, that are urgently needed to address the current pensions and care crises. A pensions dashboard, banning cold-calling, treating low earners fairly and finding funding for social care, are all policy issues which have wide cross-party support and yet appear stalled while government focuses on Brexit.

“Of course, Brexit is important to our country’s future, but so are other policies. An aging population cannot keep waiting longer and longer – it’s time to wake up to these challenges.”

Parliament goes into recess until the autumn this week, meaning the regulations around implementing a cold-calling ban won’t be debated until at least September.

According to Aegon, another issue currently on the back burner is the granting of pension tax relief to non-taxpayers, ensuring that those who don’t pay tax get the “tax relief top-ups they are entitled to”.

Aegon pensions director, Steven Cameron, said: “The Brexit process was never going to be a simple affair and from outset, the government made clear legislation to implement Brexit would push other policy initiatives down the priority list.

“The challenges of social care funding, saving for retirement and avoiding scammers are real issues today and will be with us long after the dust settles on Brexit. With no end in sight on Brexit deliberations, it’s worrying that so much of the government’s ‘business as usual’ agenda for savers is being put on hold.”

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