Treasury publishes financial guidance responses

Treasury has published the responses it received to its consultation on creating a single financial guidance body. The new body has now been legislated for under the Financial Guidance and Claims Bill and will:

  • be a non-departmental body sponsored by DWP to replace the MAS, TPAS and Pension Wide
  • provide money guidance, and pensions guidance across the UK
  • provide debt advice in England and fund the locally commissioned debt advice in the devolved administrations
  • work on national strategies to improve financial capability, ability to manage debt and improve the provision of financial education
  • be funded by industry levies