By Mark Sands and Tessa Norman
The Treasury is holding talks with the industry on how to improve its Pension Wise website.
It is understood current visitors to the site stay for an average of just three minutes. However, Scottish Widows says visitors to its own website stay for twice as long on average.
Scottish Widows pensions development manager Robert Cochran says: “We have done some work with the Treasury and the behavioural insight team looking at the Pension Wise website and sharing some of our retirement freedoms experience.
“They were getting people staying on the site for only three minutes and ours is about twice as long so they wanted to learn about that.”
In October, the Work and Pensions committee slammed the Pension Wise website as “not fit for purpose”.
Economic secretary to the Treasury Harriett Baldwin previously said the Treasury was trying to make the site more “interactive”.
A Treasury spokesman says: “Many consumers will not know what they need when they first visit the site and can visit numerous times.”