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<p>Take up of the Pension Wise guidance service is growing with more and more people
having appointments. Between 2015/16 and 2017/18, take up of appointments more than
doubled and continues to increase.</p><p> </p><p>Pension schemes and providers are
required to signpost people to Pension Wise at key contact points. Pension providers
are consistently cited by around half of the people who contact Pension Wise as the
place they first heard of the service. The FCA have consulted on changes to these
requirements with a view to increasing the take up of Pension Wise guidance.</p><p>
</p><p>The Pension Wise marketing strategy across TV, Radio, web, Press and Video
on Demand, as well as search engine optimisation, aims to get maximum reach amongst
the target audience. This has proven to an effective way of both raising awareness
of the service and driving take-up of appointments.</p><p> </p><p>Pension Wise is
also working with employers nationally and locally to engage with their employees
at their place of work. Pension Wise delivery partners also undertake local promotional
activities, raising awareness of the service at local events.</p><p> </p><p>The Financial
Guidance and Claims Act 2018 establishes a new Single Financial Guidance Body which
will bring together the services currently provided by the Money Advice Service, The
Pensions Advisory Service and Pension Wise. The new body will make it easier for people
to access information and guidance to help them make effective financial decisions.
This Act also set a framework for implementing a stronger final nudge towards Pension
Wise at the point people seek to access their pension and we are engaging with providers
to find the most effective approach.</p>
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