Provider LV= has called on the government to make guidance mandatory for people wanting to enter retirement, after it found nearly half a million people could be retiring each year without any help.
Responding to the Treasury's consultation on the future of public financial guidance, LV= warned of a "mis-buying crisis" and said those who do not take advice should be forced to take guidance. The provider said it wanted to see a merged money and pensions guidance body, which would provide the service and be funded by the industry. The government is planning to abolish the statutory guidance providers - the Money Advice Service (MAS), The Pensions Advisory Service and Pension Wise - and replace them with two new 'slimmed down' bodies. One will offer pensions guidance, and the other ...
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