The government's free impartial at-retirement guidance is aimed at middle Britain, not high or low net worth individuals, pensions minister Steve Webb has told MPs.
At a hearing with the House of Commons ad hoc pension schemes bill committee Webb said it would be "a mistake" to think 100% take-up of the guarantee is the right indicator of success - it's about who gets it not how many, he said. MPs suggested in a previous session questioning the regulator the guidance take-up could be as low as 15%. The guidance guarantee was introduced by the Chancellor as an impartial free service for all people at retirement. It will be delivered under a new brand face-to-face across Citizen Advice and via the telephone by The Pension Advisory Service (TPAS...
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