The government's free impartial at-retirement guidance is aimed at middle Britain, not high or low net worth individuals, pensions minister Steve Webb has told MPs.

The Financial Conduct Authority (FCA) expects the guidance guarantee to "help people understand the questions they should be asking", not offer choices for them, director of policy David Geale has told MPs.

The Treasury is to establish a dedicated guidance guarantee operation for face-to-face meetings separate from The Pensions Advisory Service (TPAS), Michelle Cracknell has said.

The Pensions Advisory Service (TPAS) and Money Advice Service (MAS) have hit back at critics of their involvement in delivering the government's 'guidance guarantee', saying they are confident they can scale up to meet demand.

The Financial Conduct Authority (FCA) has made it a priority to help advisers innovate their business models to reach the middle market, chief executive Martin Wheatley said on Thursday.