The British government has promised free and impartial advice to pension savers from next year.
Advice will focus on investing pensions now that reforms in pension schemes have been announced which will allow people freedom to access their pension savings to use as they wish.
The stranglehold of the lottery that surrounded purchasing mandatory annuities was ended by Chancellor Osborne.
The new regulations take effect from 2015.
The Treasury revealed today that free guidance will be available from independent organisations, such as the Pensions Advisory Service and the Money Advice Service. Consultations may be in person, over the phone or online.
The free service will be funded by a levy on the financial services industry.
The Treasury said some 300,000 people with defined contribution pensions will have greater access to their savings from next April.
