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Policy and Government

Bringing money, debt and pension advice together under a Single Financial Guidance Body

calendar13 February 2017

HM Treasury and the Department of Work and Pensions (DWP) are conducting a review to decide the future for public financial guidance. Building on groundwork laid by the Money Advice Service (MAS), Pension Wise and The Pension Advisory Service (TPAS), they are proposing to bring money, debt and pensions guidance together under a new Single Financial Guidance Body (SFGB). As a key player in the debt advice industry, CAP has responded to the consultation to welcome the proposals for a SFGB, which has the potential to deliver complex advice in order to fulfil consumer needs, such as pensions advice alongside debt advice. We stressed, however, that HM Treasury and DWP must ensure the SFGB meets consumers’ needs in practice.

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