Press releases

The Money and Pensions Service (MaPS) has announced the appointments to its Board of four new non-executive directors. Marlene Shiels, Monica Kalia, Sara Weller CBE and Simon Hamilton will join the MaPS Board from 1 September 2022. Non-Executive members of MaPS Board are responsible for providing appropriate oversight, governance and direction to MaPS in pursuit of its statutory...

Caroline Siarkiewicz, Chief Executive of the Money and Pensions Service said: “The new regulations for funeral plans will ensure plans better meet people’s needs, while ensuring their money is looked after and used responsibly, as well as being protected by the Financial Services Compensation Scheme (FSCS) if their plan provider goes bust. When considering taking out a funeral plan, make...

Matt Hammerstein, CEO Barclays UK, is now Chair of the Money and Pensions Service’s Advisory Group, effective from 1 July 2022, taking over from Vim Maru, who steps down after more than two years in the role. The Advisory Group, established in May 2020, helps ensure that MaPS delivers on its vision of everyone making the most of their money and pensions, and provides input, oversight and...

Caroline Siarkiewicz, Chief Executive of the Money and Pensions Service said: “This Enforcement Notice from the Committee for Advertising Practice (CAP) is another welcome development for those who are struggling with debt. “Over the last two years MaPS – which is the largest single funder of free debt advice in England – and the debt advice charities we fund, have...

Caroline Siarkiewicz, Chief Executive of the Money and Pensions Service said: “Research from our Debt Need Survey, which measures how many people need debt advice in the UK, has shown that four in ten people (38%) who had used Buy Now, Pay Later (BNPL) products in the last six months are in need of full debt advice. A further third (35%) are at risk of falling into problem debt, and only a...

57% of those who have experienced a recent mental health problem say thinking about their financial situation makes them anxiousEven 26% of people who have not experienced a recent mental health problem report the same concern, yet one in five do not seek helpThe Money and Pensions Service (MaPS) encourages people to seek free guidance from MoneyHelper for money worries this Mental Health...

People with mental health problems are four times as likely to be behind on priority bills1 than people who do notThis Mental Health Awareness Week, the Money and Pensions Service (MaPS) and Rethink Mental Illness are urging healthcare practitioners to refer patients receiving mental health crisis treatment into the Mental Health Crisis Breathing Space (MHCBS) schemeMHCBS places an immediate...

Current and former employees of P&O are urged not to make any quick decisions about their pension following recent media reports. The Financial Conduct Authority (FCA), the Pensions Regulator (TPR) and the Money and Pensions Service (MaPS) are raising their concerns given the heightened risk of pension transfers following recent redundancies. The FCA and TPR warn that transferring out...

Caroline Siarkiewicz, Chief Executive of the Money and Pensions Service said: “Many people watching today’s Spring Statement might be worried about managing their money in these uncertain times. Our research shows more than one in three admit to feeling worried when thinking about money matters, and nearly half admit they don’t feel confident in managing their money day to day. “If you...

MaPS is committed to ensuring the best possible outcome from the debt advice commissioning process for clients, and making sure the services we fund in England are inclusive and accessible to people with different needs and from diverse backgrounds. To support this, we undertake Equality Impact Assessments (EIAs) at an early stage of procurement so that we can understand and evaluate the...

The Money and Pensions Service announces appointments of new non-executive directors

Media comment: Financial Conduct Authority’s regulation of funeral plans

New chair of MaPS Advisory Group

Media comment: Committee of Advertising Practice Enforcement Notice on debt management adverts

Media comment: HM Treasury proposals to regulate Buy Now, Pay Later agreements

More than half of people with mental health problems feel anxious when thinking about money

Healthcare practitioners urged to support clients to access Mental Health Crisis Breathing Space from debt enforcement action

FCA, TPR and MaPS joint statement on P&O defined benefit pension schemes

Media comment: Spring Statement 2022

Money and Pensions Service (MaPS) statement on Equality Impact Assessments for debt advice commissioning

Managing money in uncertain times