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As of 2021, there were more than 7.5 million visits to the Pension Wise website and more than 250,000 Pension Wise appointments. [4] In 2015, the Pension Wise website was criticised by the Work and Pensions Select Committee as having a low take up of Pension Wise appointments. [5] [6] The Equity Release Council have recommended that Pension ...
Work and Pensions Committee urged the government to introduce a series of reforms designed to better support savers accessing their retirement pot and tackle increased complexity.
The service was launched in January 2019, combining the Money Advice Service, The Pensions Advisory Service and Pension Wise to form a single financial guidance body. [8] The decision to merge the organisations into one body was originally announced in March 2016 by HM Treasury and confirmed in the Queen's Speech of June 2017.
In 2015 Citizens Advice began to deliver Pension Wise guidance. [45] In 2015 Citizens Advice adopted a rebrand dropping the 'Bureau' from its name. The rebrand cost £1 million which includes £215,000 for research and development, £450,000 in financial support to implement the changes and £300,000 to cover local costs such as posters and ...
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Pension benefits are primarily designed to favor workers who work a full career (typically at least 25 years of service), which account for approximately 24% of state-level public workers. In a study of 335 statewide retirement plans, Equable Institute found that 74.1% of pension plans in the US served this group of workers well.
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