The Department for Work and Pensions (DWP) has expanded the scope of the ‘stronger nudge’ initiative to help more savers benefit from pensions guidance.
In response to its Stronger Nudge to Pensions Guidance consultation - which launched last July - the DWP has now confirmed it will bring forward regulations to ensure individuals in scope are made aware of Pension Wise guidance when they seek to access their defined contribution (DC) pension savings. The DWP said pension companies will not have to book a Pension Wise appointment for someone but will be "required to facilitate the booking as part of the application process". It said this "may be satisfied by providing a phone number for beneficiaries to call if they wish the scheme to ...
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