The government's advice service Pension Wise is becoming more expensive to provide to consumers, as the number of people using it dips, latest official data has shown.
The cost of handling consumer queries through Pension Wise was up 4% in the last month as the number of total sessions fell. Pension Wise completed 3,205 sessions, both telephone-based and face to face in December - 60% fewer than in the month before, when it had handled 5,365 sessions. At the same time the cost per session crept up from £496 to £516. Pension Wise was set up by the government as part of its Pension Freedom reforms to help people make informed choices with their pensions at the point of retirement. Delivered by Citizens Advice and The Pensions Advisory Service, i...
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