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Government names pensions guidance providers

Michelle Cracknell Chief Executive has responded that “The Pensions Advisory Service has been offering free, independent and impartial information and guidance about all aspects of peoples retirement savings for more than thirty years. We are excited at the opportunity presented by the promise of pensions guidance to get more people than ever engaged in thinking about their retirement options. We hope that our combined knowledge, expertise and reputation will enable us to create the best service and customer journey possible for those reaching their retirement.

We believe that it is essential that the guidance is delivered by specialists that have the experience and knowledge to respond to how people feel about this subject and get them to engage. Once we talk to people about their lives and their priorities, our experience is that we can get people to feel more confident about what they need to do next. CAB has a strong local and national presence and the partnership between TPAS and CAB has existed for many decades, so anyone who had a pension question had access to high quality free, impartial guidance on this topic . Our experience on the helpline is that our customer value the access to specialists and the bespoke and personalised conversations that we have with them about their retirement options.”

From April 2015 people will be able to access the guidance in a variety of ways including telephone, face to face or online to ensure that they can take full advantage of the new pension freedom and choices in a way that suits their personal circumstances. The Government will legislate this week to underpin the guidance, including an amendment which will make imitation of the guidance service a criminal offence.

To find out more about Budget 2014 changes you can read our spotlight here.

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