Lord Wills – 2014 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Lord Wills on 2014-04-03.

To ask Her Majesty’s Government what estimate they have made of the average charge-out rate of pension advisers in calculating the quantity and quality of advice that will be available to people retiring under the new pension arrangements announced in the 2014 Budget.

Lord Deighton

At Budget the government announced a new guarantee that everyone with a defined contribution pension will be offered free and impartial face-to-face guidance on their financial choices in retirement when they retire. The government is consulting on how best to deliver this guidance as part of its consultation, ‘Flexibility and Choice in Pensions’.

In addition, the government will work with the FCA to explore the extent to which regulated advice can be made more affordable through more cost effective delivery, such as through the development of online delivery channels.