Pension Wise, a phone line from HM Treasury to give guidance ahead of April's pension reforms, opens two weeks before the changes take effect.

Anyone over the age of 55 can call the government's Pension Wise service to get help, or book a face-to face interview.

The news was welcomed by the National Association of Pension Funds (NAPF).

Graham Vidler, Director of External Affairs, NAPF, said: "Pension Wise, perhaps more than any other part of the changes, will determine the success of the Government's Freedom & Choice reforms.

"Today's announcement of the telephone number means schemes finally have the full picture of these reforms and can now finalise communications to their members. With seven working days to go before the reforms go live schemes will do all they can to make sure their members are as well informed as possible for 6 April."

But others said it was only just in time.

"With only 2 weeks to go until the new freedoms go live, it has been a close run thing for the Treasury to get the promised service up and running," said Tom McPhail, a pension expert at Hargreaves Lansdown.

And because of the Easter break, there are now only seven working days before the changes on April 6th.

The service will offer guidance, not advice, helping retirees plan their pensions and tell them how to shop around, but it will not give technical advice, advise on which particular product is right for an individual, or advise on how to mix an annuity with a drawdown or give help on investments.

Anyone wanting guidance can go to the Pension Wise website, where they will be able to book a telephone conversation with the Pensions Advisory Service, or a face-to-face interview with Citizens Advice.

"Hundreds of thousands of savers will be looking to Pension Wise to help them make sound financial decisions to last them the rest of their lives," said Graham Vidler.

First published 26.03.2015

Lindsay.sharman@wilmingtonplc.com