- The Financial Guidance and Claims Act 2018—the pensions provisions
- Original news
- What is the main purpose of this Act?
- When will the single financial guidance body be launched?
- What other pensions provisions are included in the Act?
- Pensions cold call ban
- Pensions guidance
- No provision for mid-life reviews
- What are the practical implications?
Pensions analysis: The Financial Guidance and Claims Bill received Royal Assent on 10 May 2018, thereby becoming the Financial Guidance and Claims Act 2018. Besides legislating for the creation of a single financial guidance body to replace Pension Wise, the Pensions Advisory Service and the Money Advice Service, it includes provisions for the introduction of a ban on pensions cold-calling and provisions designed to increase the take up of pensions guidance. However, the amendment designed to provide mid-life reviews was quietly dropped shortly before Royal Assent.
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