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NAPF secures Govt cash for generic body

The National Association of Pension Funds is setting up a generic advisory body, sponsored by the Government, to give general advice on retirement.

The NAPF successfully secured funding from the Pensions Education Fund run by the Department for Work and Pensions.

Pensions Force will be a not-for-profit organisation aiming to develop initiatives to engage with working people on retirement planning. Funding is secured until March 2008 and launch is expected in six months.

The NAPF says it could help employees make decisions on opting out of the National Pensions Savings Scheme but legal experts warn it must not stray into giving regulated advice.

Director of policy Joanne Segars says: “This free service will be advice with a small ‘a’ on retirement and whether some employees should be saving at all in a pension fund or reconciling debts first.”

Beachcroft Wansbroughs managing director Richard Hobbs says: “It is very easy for people to stray into advice with a capital ‘A’ just because they are trying to be helpful.”

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