Debt and Pensions Advice

Part of the debate – in the House of Lords at 3:04 pm on 15 October 2007.

Alert me about debates like this

Photo of Lord McKenzie of Luton Lord McKenzie of Luton Parliamentary Under-Secretary, Department for Work and Pensions, Parliamentary Under-Secretary (Department for Work and Pensions) (also in the Department for Communities and Local Government) 3:04, 15 October 2007

My Lords, we believe that there is a need for generic financial advice, which is why we have asked Otto Thoresen to consider how a national service could be provided. We await his report.

In the mean time, we are spending £31 million this year to provide additional face-to-face debt advice. This is targeted especially at the financially excluded, many of whom will be on lower incomes. The Government are also contributing to the National Debtline. The Pensions Advisory Service and the Pension Service offer information at the end of a phone, on websites and in a range of booklets on private and state pensions.