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