The Money and Pensions Service (MaPS) is taking action to ensure we keep meeting the needs of debt advice clients, many of whom are presenting with increasingly complex cases.
After feedback from advisers and advice organisations, along with our own research, MaPS has recognised that there has been a significant rise in case complexity in recent years.
In response, together with the Department for Work and Pensions and HM Treasury, we have agreed that more time is needed with clients. We have therefore adjusted the level of clients to be served through our community-based grant funding for 2023/24.
MaPS will fund advice and support through its community-based organisations to serve a combined total of at least 97,920 clients for the year ahead, starting 1 April.
The new total reflects the fact that clients need more time and support from advisers. It also makes it feasible to provide both the best standard of service for clients and the right level of protection for debt advisers’ welfare by ensuring their workloads are more manageable.
MaPS came to this decision after reviewing the available evidence on client need and case times. We will continue to work with the sector to understand the demand for services.
Caroline Siarkiewicz, Chief Executive of the Money and Pensions Service, said:
“Debt advice is life-changing for the people who receive it, so it’s crucial that we respond to their evolving needs. In order to achieve this, we’re making changes and ensuring the way we work with our community-based services is focussed on giving clients the time they need for their increasingly complex situations.
“By striking a balance between maximising the availability of the service, meeting the needs of those using it and protecting debt advisers’ welfare, we can offer a high quality service that works for everyone.
“We look forward to continuing to support all of our partners as they provide free, independent debt advice for the many people who need it.”
–ENDS–
For further media enquiries, please contact the MaPS Press Office on 020 8132 5284 / media@maps.org.uk.
Notes to editors
- In 2023/24, our expectation is that at least 560,000 people will receive debt advice via our community-based services grants and contracts.
About the Money and Pensions Service
Our vision is “Everyone making the most of their money and pensions.”
We offer free, impartial help and guidance on money and pensions via www.moneyhelper.org.uk and 0800 138 7777. The service includes a range of free tools, plus the opportunity to speak to an expert via WhatsApp, phone, email or live chat.
We also co-ordinate the UK Strategy for Financial Wellbeing, working with partners and stakeholders to help everyone find their way forward and build a better financial future.
We are an arms-length body, sponsored by the Department for Work and Pensions and funded by levies on both the financial services industry and pension schemes.
For more information, visit our website or annual corporate plan and strategy.