The Pensions Advisory Service
| Successor | Money and Pensions Service |
|---|---|
| Founded | 1983 |
| Founder | UK Government |
| Dissolved | April 6, 2019 |
| Type | Non-departmental public body |
| Location | |
Area served | United Kingdom |
| Services | Pension advice and support |
Official languages | English and Welsh |
| Owner | UK Government through Department for Work and Pensions |
| Revenue | Grant added by UK Department for Work and Pensions |
| Website | www |
The Pensions Advisory Service (TPAS) was a British government body that provided free information, advice and guidance on state, company and individual pension schemes. Additionally they helped any member of the public who had a problem, complaint or dispute with their occupational or private pension arrangement.[1][2] It was merged in 2019 to create its successor the Money and Pensions Service.
While it was operating it structured as a non-departmental public body and independent non-profit company limited by guarantee in the United Kingdom.[3] It was funded by receiving grants from Department for Work and Pensions.[2]
The service was provided by a nationwide network of volunteer advisers with the required knowledge and experience who were supported and augmented by a technical and administrative staff based in London.[2]
History
[edit]In January 2019 the UK government launched the Money and Pensions Service, combining the Money Advice Service, the Pensions Advisory Service and Pension Wise to form a single financial guidance body.[4] The decision to merge the organisations into one body was originally announced in March 2016 by HM Treasury and confirmed in the Queen's Speech of June 2017.[5][6]
In March 2021, MaPS announced that it would be consolidating its three legacy consumer brands into one brand called MoneyHelper, to provide a better and enhanced consumer experience and a single source of information and guidance.[7]
References
[edit]- ^ "Registered Pension Schemes - useful contact numbers". Her Majesty's Revenue and Customs (HMRC).
- ^ a b c "About TPAS". The Pensions Advisory Service.
- ^ "Cabinet Office - Public Bodies(2007)" (PDF). 2007. Archived from the original (PDF) on 2008-11-23.
- ^ "Home". The Money and Pensions Service.
- ^ Milligan, Brian (16 March 2016). "Budget 2016: Money Advice Service to be abolished". BBC News. Retrieved 29 May 2019.
- ^ Murray-West, Rosie (21 June 2017). "New pensions minister to merge guidance bodies". FT Adviser. Retrieved 29 May 2019.
- ^ "Maps to scrap legacy brands and operate as MoneyHelper - FTAdviser.com".