The Treasury has unveiled the name and logo of the pensions guidance service, called Pension Wise, which is to offer free and impartial guidance to people on the new pension freedoms which come into effect in April 2015
The creation of Pension Wise follows the announcement by Chancellor George Osborne last year that the government would provide access to information on the changes announced in Budget 2014 which give over 300,000 individuals a year access to their defined contribution pension from age 55.
Andrea Leadsom, economic secretary to the Treasury, said: ‘We want people to be empowered to make informed and confident choices and I’m delighted to announce Pension Wise: Your money. Your choice as the brand name for the impartial guidance service we are building.
‘Pension Wise will be a first port of call for people with a defined contribution pension who are approaching retirement. It is a distinctive brand, making it easy for consumers to know where to go for help and guidance.’
The new name and logo will be used by all those involved in providing the online, face to face and telephone guidance. The government’s delivery partners are Citizens Advice (England and Wales), Citizens Advice Scotland and Northern Ireland Association of Citizens Advice Bureaux and The Pensions Advisory Service.
In order to protect consumers from imitators of the service and ensure the guidance brand is trusted, the government says it will make the imitation of Pension Wise illegal through the Pension Schemes Bill.
More information about Pension Wise here: https://www.gov.uk/pensionwise
