Govt to replace MAS, TPAS and Pension Wise

Three bodies face major changes

The government will replace statutory guidance providers the Money Advice Service, The Pensions Advisory Service and Pension Wise with new bodies following a further review.

The Treasury said it will introduce a new pensions guidance body and a new, slimmed-down money guidance service in their place. It will be funded by a levy on the financial services and pensions sectors.  The Treasury outlined its views in a proposal for consultation published today. Budget documents, also out today, said: "The government will restructure the statutory financial guidance providers to ensure that consumers can access the help they need to make effective financial decisions. "The new delivery model will direct more funding to the front line and focus support on ar...