The Money and Pension Service (Maps) should be given “greater scope” to be able to provide stronger financial guidance, the Pensions and Lifetime Savings Association (PLSA) has said.

The PLSA believes that Maps should be able to make “general recommendations” without it being considered as personal financial advice and that guidance provided through employers and pension schemes should be easier to obtain.

The organisation warned, however, that Maps’ requirement to focus on those in society that are most in need or in vulnerable circumstances does not result in a drop in support for the “many people” who need pension saving support.

It estimated that around half of the working age population is unlikely to achieve the Pension Commission’s target replacement rates.

The suggestions were made in response to Maps' report on its initial listening phase, which was conducted after the newly combined service was launched in April.

Commenting, PLSA director of policy and research, Nigel Peaple, said: “The PLSA and its members are fully supportive of Maps and look forward to working closely with the guidance body.

“Many people find decision-making on pensions very confusing. We believe that Maps’s trusted non-commercial status makes it ideally placed to help close the advice gap that means so many people feel unable to take complex financial decisions.”

The PLSA is encouraging Maps to be given greater scope as it believes that increased public engagement will result in better pension decision-making, both when saving and drawing down.

Peaple continued: “It is vital that Maps gives pensions the focus it needs as it set its new strategy. Most of us aren’t saving enough and we need to work together to ensure people achieve a better income in retirement.”

Last month (June) Maps announced that its CEO, John Govett, was resigning after just eight months in charged, to be replace by Caroline Siarkiewicz on a temporary basis while the board searches for a permanent replacement.

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