Pensions - Articles - SFGB is christened The Money and Pensions Service

Now that the Single Financial Guidance Body has been officially christened as The Money and Pensions Service, Steven Cameron, Pensions Director at Aegon sets out necessary next steps:

 “Bringing together Pension Wise, the Money Advice Service and the Pensions Advisory Service into a single financial guidance body should make it easier for individuals to access guidance on a range of financial topics. We’re pleased that its new name, the Money and Pensions Service, avoids using the word ‘advice’ which should help individuals recognise the difference between the guidance it will offer and the advice they can obtain from professional regulated advisers. An abbreviation to MAPS, with its inference of setting direction, could well be on the cards.

 “The industry currently signposts customers to the existing guidance services and an important next step will be to replace these with a single signpost to the Money and Pensions Service. Before this can happen, John Govett and his team will need to put in place the behind the scenes processes to channel individuals effectively to the service they need.”


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