Government consults on new financial guidance body

Will replace MAS, TPAS and Pension Wise

The government has opened a consultation on a single financial guidance body to be created after autumn 2018.

The consultation outlines how guidance for publicly-funded debt advice, pensions and money guidance will be brought together following the scrapping of the Money Advice Service (MAS), The Pension Advice Service (TPAS) and Pension Wise in this year's budget. The new guidance body will be responsible for debt advice; guidance and information on pensions; providing information to help consumers avoid financial fraud and scams; guidance on wider money matters and influencing efforts to improve financial capability; and co-ordination of non-governmental financial education programmes for youn...