Webb gives clearest hint yet of retirement 'guidance' model

Product providers, as the most likely first point of contact with retirees, will have a duty to point savers towards organisations such as The Pensions Advisory Service (TPAS) and the Money Advice Service (MAS), who will provide the "guidance moment", Webb suggested. The guidance itself must not refer to the suitability of individual products - there will be no personal recommendation - but should involve such questions as "What is drawdown?", said the pensions minister, in an interview with Professional Adviser. While face-to-face will be an option, these organisations will also be r...