Uncategorised | The Money and Pensions Service

Nick Hill, money expert at the Money and Pensions Service commented: “The measures announced in today’s Budget will continue to provide support for people impacted by the Covid-19 pandemic. However, we know how worried many people are about money right now and dealing with complex financial situations. It can be hard for many people to know where to start in terms of getting help, but it’s...

The Money and Pensions Service (MaPS) has announced the appointment to its Board of a new non-executive director, Alex Heath. Joining the MaPS Board from 1 March 2021, Alex brings with him a wealth of experience from the digital sector, including most recently as founder of CrowdRating, a screening service for equity crowdfunding investors. Alex is also Chairman of Artfinder, and Chairman...

The Money and Pensions Service welcomes the Financial Conduct Authority’s publication of guidance for firms on the fair treatment of vulnerable customers today. James Fearnley, Policy and Propositions Manager at the Money and Pensions Service commented: “We know that Covid-19 has deepened existing vulnerabilities for some and exposed others to financial difficulty for the first...

The Money and Pensions Service (MaPS) has announced three senior appointments including a new Chief Finance Officer and new Pensions Dashboards Programme Director. Joining the MaPS Board and Executive Leadership Team from 1 April 2021 is the new Chief Finance Officer Mal Singh. Mal brings with him extensive experience of senior finance roles within digital, welfare reform, operations and...

Networks and community lead Richard Denyer-Bewick shares three free ways your housing association can support residents with money matters by developing your skills and joining a new community of money guiders across the UK, to take your help further. There’s a money side to most of life’s challenges, so it’s no surprise that the coronavirus pandemic has affected the way people manage...

New research shows saving through a workplace payroll scheme can turn employees into regular savers1.Payroll savers are more likely to save frequently than non-members, with results suggesting that more employers should consider offering payroll saving across the UK New research funded by the Money and Pensions Service (MaPS) shows that 7 in 10 employees enrolled in a workplace payroll...

In 2019/20, the Money and Pensions Service (MaPS) ran a collaborative improvement project working with supply chain partners to transform the way MaPS – funded debt relief order (DRO) units process DRO applications. In running this project, MaPS, alongside Citizens Advice and Citizens Advice County Durham, were able to: significantly improve customer satisfactionreduce the...

Following the publication of the Woolard Review: A review of change and innovation in the unsecured credit market, MaPS Chief Executive Caroline Siarkiewicz commented: “The proposals to bring Buy Now Pay Later under regulatory scrutiny would provide further protection for people to avoid the potentially harmful consequences of this form of borrowing which can result in people spiralling...

Influencing creditor support for people in financial difficulty We have an ongoing strategic objective to influence more consistent creditor support for those with debt problems. A supportive approach to debt recovery provides a range of benefits for any organisation collecting debts. Creditors that work in partnership with the debt advice sector tend to achieve fairer outcomes, better...

Caroline Siarkiewicz, Chief Executive of the Money and Pensions Service said: “The Advertising Standards Authority’s (ASA) rulings on the practices of some commercial firms are a positive and welcome development for people struggling with debt, as well as the free debt advice sector which supports these customers. “Some of the practices deployed by...

Media comment: Budget 2021

The Money and Pensions Service announces appointment of new non-executive director

Media comment: FCA’s guidance on fair treatment of vulnerable customers

The Money and Pensions Service announces three senior appointments

Three ways to help your residents with Covid-19 money worries

Rebuilding financial wellbeing: New research shows workplace saving schemes could help low income earners grow their rainy-day savings

Transforming debt relief order administration

Media comment: Buy Now Pay Later/Woolard Review

Working collaboratively with debt advice agencies: a strategic toolkit for creditors

Media comment: ASA ruling

Coronavirus and personal finances