Pensioners to receive independent 'impartial' guidance

Savers will receive free independent guidance as part of a move to give unfettered access to their pension funds from next year, the government said.

The Government's response to the consultation, published today, confirmed that the Government will continue to allow individuals to transfer from private sector defined benefit schemes to defined contribution pension schemes.

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Money Advice Service welcomes pensions advice role

Planning for retirement is a crucial life stage, and it is important that people feel well-informed and confident in the decisions they make, the chief executive of the Money Advice Service (MAS) said. Caroline Rookes added:

The Money Advice Service welcomes the Treasury's announcement that we will have a role in the provision of the retirement guidance guarantee.

We are pleased to have this opportunity to build on our existing work helping people as they approach retirement and with wider money issues.

– Caroline Rookes, chief executive of Money Advice Service

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