Industry: TPAS and MAS will struggle to deliver guidance guarantee

clock

The Pensions Advisory Service (TPAS) and the Money Advice Service (MAS) will struggle to cope with the scale and speed of meeting the guidance guarantee, industry figures say.

Yesterday, the Treasury announced TPAS and MAS would bear much of the weight for delivering the guarantee from April 2015 to ensure it was impartial. Pensions Administration Standards Association (PASA) chairman Margaret Snowdon (pictured) raised concern that the organisations did not have enough capacity to manage expected demand. She said: "Independent organisations do not, currently, have the resources to physically man the helplines and clinics, which means they will need to recruit administrators. "This could lead to a significant cost implication for the industry as administra...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Pension consolidation deserves more respect than it gets

Pension consolidation deserves more respect than it gets

'For me, pension consolidation is a perfect illustration of why financial planning matters'

Andy Zanelli
clock 19 February 2026 • 5 min read
Divorce, pensions and professional collaboration in the HNW world

Divorce, pensions and professional collaboration in the HNW world

'Beware the attraction of the simple solution'

Richard Kershaw
clock 16 February 2026 • 3 min read
A century of the state pension – and why the next redesign is overdue

A century of the state pension – and why the next redesign is overdue

'A pension promise only works if contributors believe it is fair and durable'

Adam Cole
clock 16 February 2026 • 4 min read