Uncategorised | The Money and Pensions Service

The Money and Pensions Service (MaPS) is encouraging people to pay extra attention to their financial wellbeing during the coronavirus pandemic, and to consider what protective steps they can take now to avoid money worries later on. With coronavirus likely to cause disruption for a significant amount of time this year, the government-backed organisation is urging people to spend some time...

Commenting on the measures announced today by the FCA into the Defined Benefit pension transfer market, Carolyn Jones, Head of Pension Policy and Strategy at the Money and Pensions Service, said: “The FCA is right to say it will be in most people’s best interests to remain in their Defined Benefit pension but we recognise that everyone’s situation is different. Some people may be...

Covid-19 has had, and will continue to have, a major impact on our lives and those of our customers. As an organisation we want to try and understand how people’s financial lives are changing, and might change in the future, so that we and our partners can respond in the best way. We have collated and analysed published data from the widest range of sources we could, to...

Commenting on the FCA’s confirmation of the extension of mortgage payment holidays, Andrew Johnson, money expert at the Money and Pensions Service said: “It is positive that flexibility will continue to be available to people facing temporary money issues but it’s really important anyone taking a break from paying their mortgage understands the implications. Your future payments will...

A new group of top-level executives from the worlds of finance, consumer rights, research and technology is being convened to ensure the Money and Pensions Service (MaPS) delivers on its mission of everyone making the most of their money and pensions, and so that the UK Strategy for Financial Wellbeing is as successful as possible in hitting its ambitious ten year goals. Unveiled by the...

This Mental Health Awareness Week, the chief executives of Mind and the Money and Pensions Service talk about the increasingly familiar link between money and mental health, and how the mental health and financial sectors are working together to respond to people’s changing needs during the coronavirus outbreak and beyond. Paul Farmer, CEO of Mind Money and mental health are often...

Quality and Training Executive Ivy Milazzi and guiders from our contact centres share their experiences of responding to the increased need for money guidance during Covid-19. Coronavirus has had a financial impact on so many people who experienced income shocks and changes to their circumstances almost overnight. We had to make changes just as suddenly to meet their money guidance...

Before the UK entered lockdown, we issued a notice to our stakeholders to share how we were continuing to deliver services for our customers, collaborate with partners and prioritise the wellbeing of MaPS employees. Six weeks on, MaPS CEO Caroline Siarkiewicz updates on our response to Covid-19. The current pandemic is not just hitting people’s physical health...

Commenting on the FCA’s proposals to help motor finance and high cost credit customers during the Covid-19 crisis, Nick Hill, money expert at the Money and Pensions Service said: “The new measures proposed today provide a new option for customers using motor finance and high-cost credit, and could be helpful for people who are experiencing temporary payment difficulties. When these...

The Pensions Dashboards Programme is today publishing its first full report on the progress made so far and the work that needs to be undertaken before the service launches to the public. Commenting on today’s update, Chris Curry, Principal of the Pensions Dashboards Programme at MaPS, said: “The vision of the Pensions Dashboards Programme could not be simpler – to enable...

People urged to consider financial wellbeing during coronavirus pandemic

Defined Benefit pension transfers – MaPS urges consumers to get guidance: media comment from the Money and Pensions Service

Covid-19 impacts on financial wellbeing

FCA confirmation of the extension of mortgage payment holidays: media comment from the Money and Pensions Service

Guardians of Financial Wellbeing: New advisory group to Money and Pensions Service Board

Mental health and money: how Covid-19 could create the perfect storm

Covid-19: Perspectives from the money guidance front line

Personal finances and the impact of coronavirus – the role of the Money and Pension Service

FCA proposals to help motor finance and high cost credit customers: media comment from the Money and Pensions Service

Pensions Dashboards Programme sets out broad plans for future development

Coronavirus and personal finances