Government to merge financial guidance bodies into one

Diverted from two-body plan

Carmen Reichman
clock • 3 min read

The government is to create a single guidance body for pensions, money and debt matters, which will replace The Pensions Advisory Service (TPAS), including Pension Wise, and the Money Advice Service (MAS), it has said.

Ministers said they wanted to make it "as easy as possible" for consumers to access financial guidance, in a statement on 9 October. The Treasury had been consulting on how to best shape any future guidance bodies following former chancellor George Osborne's announcement in March that government-sponsored TPAS and MAS would be reformed and ‘slimmed down'. It had initially been considering a two-body delivery model which would have seen the MAS replaced by a streamlined money guidance body and TPAS and Pension Wise brought together into a new pension guidance body. However, the Trea...

To continue reading this article...

Join Professional Adviser

  • 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.



Already a Professional Adviser member?


More on Regulation

Caroline Rainbird

FSCS levy demand for 2023/24 'significantly' cut to £270m

Updated levy is £208m lower than the forecast published in November 

Jenna Brown
clock 25 May 2023 • 3 min read
SDR holds “a lot of promise”, the firm said, especially in a simplified disclosure for consumers

Morningstar: FCA has 'once-in-a-generation opportunity' in SDR

Sustainability Disclosure Requirements to build a 'truly cohesive' framework

Elliot Gulliver-Needham
clock 18 May 2023 • 3 min read
FCA censures Lighthouse after British Steel 'serious failings'

FCA censures Lighthouse after British Steel 'serious failings'

Quilter-owned firm has paid out £23m in redress

Jenna Brown
clock 15 May 2023 • 2 min read