'A positive step': Advisers' relief at provider absence from retirement 'guidance'

The Treasury has confirmed the 'guidance guarantee' - outlined at Budget 2014 - will be delivered by independent bodies such as the MAS and The Pensions Advisory Service (TPAS). Providers will have a fringe role but will, as the most likely first point of contact with savers, have a duty to point savers towards the guidance. The guarantee will be funded by a levy on the financial services industry, with advisers facing the possibility of contributing almost a third of its running costs. Advisers said they were at least relieved the government followed through on its promse the guid...