MPs automation proposal for Pension Wise rejected

The government and the FCA respond to WPC’s 24 proposals

Hope William-Smith
clock • 3 min read

The Work and Pensions Committee’s (WPC) call to trial automatic Pension Wise appointments has been rejected by the government. The Work and Pensions Committee’s (WPC) call to trial automatic PensionWise appointments has been rejected by the government.

In its response to one of the WPC's design reforms laid down in January, the government said it does not support setting a target proportion of members utilising financial advice or Pension Wise guidance. The rollout of automatic Pension Wise appointments was central across 24 reform proposals the WPC published as a roadmap to better supporting savers accessing their retirement monies. This in turn is aligned to its three-part inquiry into the success of the first five years with pension freedoms. But in its response to the WPC's eleventh outlined recommendation, the government has sa...

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