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<p>Since its creation in January, the Money and Pensions Service has been working
with government and pension providers in developing tests to determine how a stronger
nudge into taking pensions guidance would work effectively in practice. Prior to its
launch this work was progressed by Pension Wise under DWP.</p><p> </p><p>An independent
contractor has been appointed to carry out these tests in partnership with a number
of pension providers. An evaluation report will be published this financial year,
which will form the basis for which option is selected. Until the report has been
published, we are unable to make an estimate in relation to an increase in the expected
take up of Pension Wise guidance.</p><p> </p><p>The Money and Pensions service continue
to provide guidance appointments via Pension Wise, making 205,000 appointments available
across their channels this financial year which would be almost three and a half times
higher than Pension Wise’s first year of operation. Pension Wise have been successful
in increasing demand for appointments year on year across all its channels.</p>
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