Pensions: Advisory Services

Department for Work and Pensions written question – answered on 11th May 2016.

Alert me about debates like this

Photo of Julian Knight Julian Knight Conservative, Solihull

To ask the Secretary of State for Work and Pensions, what plans he has to extend the Pensions Wise service to people (a) between 20 and 40 and (b) between 40 and 50; and if he will make that service available to advise people on whether to invest in a lifetime ISA or under auto enrolment.

Photo of Justin Tomlinson Justin Tomlinson Parliamentary Under-Secretary of State (Department for Work and Pensions) (Disabled People)

Pension Wise provides free and impartial guidance to those aged 50 and over with a defined contribution pension to help them understand their options.

It was announced at the 2015 summer budget that the age for eligibility would be lowered to 50. Pension Wise has developed new content for 50 – 54 year olds to make the guidance appointments more relevant to their needs and this is now live.

The government plans to restructure the delivery of public financial guidance to ensure that all consumers can access the help they need when they need it.

Pension Wise does not give specific advice on products or provider recommendations. There are currently no plans for Pension Wise to provide guidance on lifetime ISAs or Automatic Enrolment.

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.