Press releases

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...

New research reveals those with higher financial wellbeing are much more likely to be content with their lives than those earning top salaries Financial wellbeing involves feeling secure and in control, making the most of your money day to day and dealing with the unexpected16 million UK adults1 have lower financial wellbeing, meaning they are more likely to be less satisfied...

The Debt Advice Peer Assessment Scheme (DAPA) as a quality assurance testing mechanism will cease on the 31st of March 2022. The last case files to be assessed under DAPA have been received and will be being marked and assessed during January and February with final reports being produced in March. In recognition of the resource challenges and attrition occurring within the...

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

Beat the blues by focusing on financial wellbeing

Money and Pensions Service (MaPS) statement: update on MaPS Quality Assurance Framework

Managing money in uncertain times