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Investigation launched amid pension pot sale claims

An investigation has been launched into claims that the details of millions of people's pension pots have been sold to fraudsters and cold-calling firms.

Pensioners' salaries, the value of the investments and the size of their pensions are being sold for as little as 5p without their consent, the Daily Mail reported.

Steve Eckersley, the head of enforcement at the Information Commissioner's Office (ICO), the privacy watchdog, described the claims as "very worrying" and announced an immediate investigation.

The Daily Mail claimed one of its undercover reporters were sold pension pot details for 15,000 people without any checks being made on who they were and what they wanted the data for.

"The worst case scenario here is this information getting into the wrong hands and being used to target individuals at a critical point in their financial lives," Eckersley said.

The claims come just a week before reforms giving Britons the chance to access their full retirement pots come into force.

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