View more on these topics

Pension Wise appointment costs continue to fall

Pension Wise jenga

The cost of providing Pension Wise appointments has continued to fall, latest Government figures shows.

In April the average cost was £475, down around 6 per cent on March, and from a high of £550 during January.

In addition, the statistics show pension providers account for 28 per cent of referrals to the guidance service.

Just 1 per cent of Pension Wise users said they were directed there by advisers.

In November 2015 pensions minister Ros Altmann blamed providers for the service’s low initial take-up.

However, appointment numbers hit a record high over 7,000 face-to-face and telephone sessions in February.

The most recent figures, for April, shows there were 6,900 appointments over the month. The most popular online page was information on taking pension pots in one go.

Recommended

Pension savings-2015

High Court ruling could open the floodgates to pension scammers

Until recently, pension providers had wider powers to refuse to make a transfer if they had concerns about where it was going. This acted as a major line of defence in preventing pension scammers from accessing individual’s pensions and savings. However earlier this year, the High Court overturned a Pensions Ombudsman decision that sided with […]

Prudential 480

Pru to cull pensions jobs in offshore move

Prudential is moving 81 individual annuities jobs out of Reading, including offshoring some roles to Mumbai, India. A minority of roles will be moved to Craigforth in Scotland. The individual annuities division handles servicing and bereavement. It is understood the offshoring could start in October. Unite the Union has started a 45-day consultation with Prudential. […]

Europe: Volatile share prices create opportunities for long-term investors

Mark Page and Laurent Millet, managers of the Artemis European Opportunities Fund, look at why, how and where fluctuations in European markets can generate opportunities for their fund. When asked what the stock market would do next, John Pierpont Morgan is reported to have replied that “it will fluctuate”. His (apocryphal) answer proved accurate. Over […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Leave a comment