Written Evidence to be reported to the House.
Pensions Bill
3:45 pm
Mr. O'Brien: I accept that. We need to return to the important distinction between information and advice, although it is not always easy to make it in practice. However, it is important that we do so for the purposes of this discussion. We do not expect the Personal Accounts Board to give advice; we expect it to give information. There are sources from which people can get a degree of person-to-person advice about whether to do something. The Pensions Advisory Service can provide a degree of advice, and the citizens advice bureau has financial advisors. Otto Thoresen is looking, on the Government’s behalf, at how we can best provide generic financial advice, and we expect his report later this year. It will enable us to take this discussion much further forward and to look at how we can provide the level of reassurance that you seek for people who might be concerned about whether to opt in or out.