Gregg McClymont MP, Labour’s Shadow Pensions Minister, responding to George Osborne’s announcement on pensions advice, said:

“Labour supports flexibility and choice in retirement, but the Government has to get the provision of free guidance right. Today the Government has continued to water down their commitment to the next generation of pensioners. First we had advice, which became guidance. Now face to face has become online or over the phone. While further clarity is welcome, there is a long way to go to meet the challenge of providing a gold standard service by April 2015 in order to ensure that people can plan adequately for retirement.”