Budget: Govt confirms Pension Wise expansion

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The Government has confirmed it will extend the Pension Wise guidance service to those aged 50 and above.

In the Budget today, the Government also announced a further marketing drive to promote awareness of the service.

Initially the Treasury said only people within six months of their 55th birthday could use Pension Wise.

But last week Money Marketing revealed the Government was considering extending access to the service to those aged 50 and over.

The Budget document confirms this change.

It also says: “The Government is launching a comprehensive nationwide marketing campaign to further raise awareness of the service.”

In April, Money Marketing revealed TV adverts for Pension Wise would be dropped for almost two months due to “purdah” restrictions ahead of the general election.

The Treasury has blocked Freedom of Information requests relating to the take up of Pension Wise and customer satisfaction with the service.