PensionsJan 20 2015

CAB announces first guidance venues

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CAB announces first guidance venues

The Citizens Advice Bureau has announced 44 locations where face-to-face pensions guidance will be provided, from Darlington to Sutton, Lincoln to Ceredigion.

Each delivery centre will have between three and seven paid members of trained staff providing pensions guidance.

The staffing levels will depend on the size of the area they are covering and its population.

Face-to-face Pension Wise appointments will be available at delivery centre bureaus which will also use a range of outreach locations.

The CAB has said staff will be assessed to ensure they meet FCA standards before they start offering guidance to the public.

 

East Midlands

Derbyshire Districts

 

Lincoln and District

 

Leicestershire

East of England

Peterborough

 

Central and East Northamptonshire

 

Stevenage

 

Diss, Thetford and District

London

Merton and Lambeth

 

East End

 

Sutton Borough

North East

North Tyneside

 

Darlington

North West

Cheshire West

 

Manchester

 

North Liverpool

 

Allerdale

 

Lancashire West

South East

Rushmoor

 

West Oxon

 

Hastings and Rother 1066

 

High Wycombe

 

Arun and Chichester

 

Bournemouth

 

Maidstone

South West

Plymouth

 

Taunton

 

Cornwall

 

Wiltshire

West Midlands

Staffordshire Southwest

 

Wolverhampton

 

Shropshire

 

Coventry

 

Worcester and WHABAC

Yorkshire and Humber

Hull and East Riding

 

Sheffield

 

Leeds

 

Hambelton and Richmondshire

Wales

Powys

 

Cardiff and Vale

 

Caerphilly

 

Denbighshire

 

Ynys Mon

 

Pembrokeshire

 

Ceredigion

 

Gillian Guy, chief executive of Citizens Advice, said: “Pensions guidance will be crucial in helping people understand their options as they approach retirement age.

“These 44 Citizens Advice Bureaux selected as delivery centres will be key to bringing the Pension Wise service to life and making sure that as many people as possible can access the guidance.”

People will also be able to access guidance and information over the phone from The Pensions Advisory Service and online through the Pensions Wise website.

Tom McPhail, head of pensions research at Hargreaves Lansdown, said: “Setting up the face-to-face guidance in time for April was always going to be challenging.

“The geographical coverage looks painfully thin, with retiring investors in Bristol having to travel to Taunton or Cardiff and other areas simply designated as whole counties such as Cornwall or Shropshire.

“In reality, I think take up of the face-to-face service is likely to be very limited, with the vast majority choosing to go online or over the phone instead.

“Past experience of investors’ failure to take up their rights to shop around for a retirement income shows that even relatively small barriers can be enough to deter people from taking action, even when it is in their best interests.

“An hour’s drive to get access to the face-to-face service will probably be more than enough to put many people off.”