Today, MaPS is launching an exercise to gather information before we start a procurement exercise to establish an independent Quality Assurance Service that will operate elements of MaPS Quality Assurance Framework. The independent Quality Assurance Service will ensure that all service lines, from regulated debt advice to money and pensions guidance, meet at least the requirements of the FCA-approved MaPS Standards.
The Quality Assurance Framework will apply to MaPS services and the partners it funds. The MaPS Standards, published earlier this year, set out the core principles for the effective delivery, quality and performance requirements of MaPS’ debt advice, pensions guidance and money guidance functions. This framework will apply not only to the services MaPS directly delivers but also services delivered on its behalf by its partners.
MaPS Standards were developed to ensure that everyone in the organisation and our commissioned services has a framework from which to deliver the best consumer experience; to deliver a consistent, high quality of service aimed at improving people’s financial knowledge and to help them make informed decisions about their money. The Quality Assurance Framework will monitor the level of service we, or our funded delivery partners are providing consumers, enabling a proportionate approach to assurance whilst identifying opportunities for continuous improvement.
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About the Money and Pensions Service
The Money and Pensions Service (MaPS) is here to ensure every person feels more in control of their finances throughout their lives: from pocket money to pensions. When they are, communities are healthier, businesses are more prosperous, the economy benefits and individuals feel better off. MaPS delivers free and impartial money and pensions guidance to the public through MoneyHelper, which recently brought together legacy services the Money Advice Service, The Pensions Advisory Service and Pension Wise.
MaPS is working to make sure the whole of the UK understands that financial, physical and mental health are all deeply connected. MaPS’ role is to connect organisations with the shared purpose of achieving the five goals set out in the UK Strategy for Financial Wellbeing.
MaPS supports innovation so that everyone can use the most effective methods to help people feel more in control of their money, targeted to those most in need and inclusive of people from all backgrounds. MaPS is an arm’s-length body sponsored by the Department for Work and Pensions (DWP).
Members of the public can get free guidance about their money and pensions at www.moneyhelper.org.uk