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TPAS publishes Annual Report and Accounts 2015 - 16

The Pensions Advisory Service (TPAS) has today published its Annual report and Accounts for 2015/16. The report provides information on its businesses, its service delivery, financial performance and governance.

In 2015-2016, the growth in The Pensions Advisory Service’s direct customer contact on core business grew by a further 55% on 2014-2015 levels and by 72% on its overall business (including core business and Pension Wise telephone appointments). The cost per direct customer (i.e. excluding web site visits) only rose slightly from £34 2014/15 to £36 2015/16, maintaining low costs for high value expertise.

Museji A Takolia CBE, Chair of the Pensions Advisory Service, said “The Pensions Advisory Service is delighted to report another successful year, 2015-2016. We achieved our strategic aim to serve more customers, increasing from 103,000 direct customers to nearly 180,000 and having over 2.7 million customers visiting our website. I am delighted to have been appointed to Chair an organisation, that can do so much to help the customer in a pensions landscape that is currently undergoing so much change. I would like to take this opportunity of thanking our staff, the Board and our volunteers for all their hard work in 2015-2016.

Michelle Cracknell, Chief Executive of the Pensions Advisory Service, said:
Here at TPAS we continue to operate with the same key fundamentals, which is to deliver pension expertise at low cost. We have long held the view and can evidence, that it is necessary to have experience and expertise if the help provided to customers is to add value. We are delighted with our increase in customer volumes and aim to continue our activities, so that more people benefit from our service.

The Pension Advisory Service's Annual Report and Accounts for 2015/16 was laid before both Houses of Parliament on 7th July 2016.
To read the full report please click here

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