Retirement guidance from organisations such as Pensions Wise is good but taking regulated financial advice is better, Guy Opperman has told MPs during a parliamentary committee hearing.
Speaking at a Work and Pensions Committee hearing this morning (27 January), Opperman said it was unlikely Pensions Wise would ever cross over into the sphere of regulated advice as it was a government-backed body and respected for its guidance-only services. He said: "Advice and guidance are two very different approaches. "We encourage people to take advice - advice is better than guidance." Talking about the £500 Pension Advice Allowance, in place to encourage people in money-purchase occupational schemes to access regulated financial advice, Opperman said it should be increased ...
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