What has the DWP got against advice?

clock • 3 min read

That's three occasions now when the Department for Work and Pensions (DWP) has played down the need for advice. What is going on?

Alongside protection, pensions represent the cornerstone of financial planning. Everyone, except perhaps the mega-rich or someone with an extremely benevolent employer, would benefit from having one. The Department for Work and Pensions (DWP) recognises this. But why, if it knows pensions are so important, does it regularly marginalise something essential to the proliferation of good pension outcomes: independent advice? Pensions minister Steve Webb has worked tirelessly to implement the only policy so far that addresses consumer inertia around pensions: auto-enrolment. Along with ...

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