Pensions

– Scottish Parliament written question – answered on 31st March 2003.

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Photo of Andrew Wilson Andrew Wilson Scottish National Party

Question S1W-34847

To ask the Scottish Executive whether Citizens Advice Bureaux, Age Concern Scotland or the banks are appropriate means by which pensioners may receive independent financial advice in relation to the proposed changes to the pension payment system and what the reasons are for the position on the matter.

Photo of Margaret Curran Margaret Curran Labour

Independent financial advisers and the companies they work for must be authorised by the Financial Services Authority; this is a reserved matter. Banks may only offer advice on their own products or services.

The Executive appreciates that, in the normal course of their work, the organisations mentioned may respond to their clients’ queries by advising on the consequences of the changes in benefits payments.

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