Committee report overestimates cost of advice

The not-for-profit organisation has welcomed the criticism by MPs of the government’s failure to put in place plans for financial advice before publishing proposals for personal accounts. It says it has been continually highlighting the need for a national generic advice framework, and so the Work & Pensions Select Committee’s “strongly worded” report, which also expressed concerns about the potential costs for a national advice system, has been well-received. However, in its response to the report, which called on the government to publish costings for the implementation of generic f...