Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, how much funding was allocated to (a) the Money Advice Service, (b) the Pensions Advisory Service and (c) Pension Wise in each of the five years up to and including 2018.

The Money Advice Service was previously an HMT sponsored levy funded arm’s length body. When this and the other legacy bodies were merged to create the Money and Pensions Service (formerly Single Financial Guidance Body) historic budgets were transferred to the new Government sponsors - Department for Work and Pensions - as part of a Machinery of Government change. The historic amounts transferred to DWP were:

Funding for the Pension Advisory Service is contained in the Supplementary Estimates for each year hosted on the link below. The data can be found in Part III: Note E of the Department for Work and Pensions section. The Pension Advisory Service is Levy funded.

https://www.gov.uk/government/collections/hmt-supplementary-estimates

Pension Wise costs for the Period are:

*Pension Wise was in set up phase in 14/15

** Pension Wise was in HMT in 15/16

*** Includes Pension Wise expenditure in DWP and Single Finance Guidance Body (now Money & Pensions Service)

Pension Wise is levy funded.