The Money Advice Service, Pension Wise and The Pension Advisory Service is to be replaced by a single body who will provide debt and pension guidance under one new body.

This is a change from what was announced in the 2016 Budget, when the thought was there would be two guidance services; one for pensions and one for debt. 

The details of what this new body will comprise, what resources will be available and the timeframe for change are not yet known and the government will be inviting views via a consultation.

Having a resource for any individual, whether employed, self-employed or out of work to use to improve financial wellbeing is a good thing.

However, following the low uptake of Pension Wise, it will be interesting to understand the details, the target population this is intending to help and what resources will be available.