Pension Wise

Underlying statutory framework made MAS ineffective

Three bodies face major changes

Transaction cost up 4%

The Financial Conduct Authority (FCA) has said it will support a move of Pension Wise towards providing a more personalised service for its clients.

Each session costs almost £500

Pension Wise statistics will be updated on a monthly basis by the government according to the Treasury's economic secretary Harriett Baldwin.

A report has called for a new category of advice for the mass market to help later life consumers "put their savings to use" and help drive economic growth.

Ex-minister favours advice vouchers over Pension Wise

Extension to £1,000 could help confront 'inconvenient truth' about access to advice

'There's a service out there not being used by people who could do with expert guidance'