News

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...

The Money and Pensions Service (MaPS) assumed the delivery functions of both Pension Wise and The Pensions Advisory Service in 2019. This report provides quarterly data for MaPS’ pensions guidance services for Q1 2018/19 to Q3 2020/21 (year to date). This data is being published in advance of quarterly reporting commencing in 2021/22. Download report

Need for debt advice to rise when Covid-19 support measures end in coming months Money guidance helplines are preparing for a rise in people needing debt advice in early 2021 with a call about debt expected at least every four minutes throughout January1 at the Money and Pensions Service (MaPS), who are anticipating that debt advice demand will grow this year due to the continued impact of...

Policy manager Sophia Spence-Cheng shares thoughts on a new £900,000 programme funded by the Money and Pensions Service that tests innovative ways to deliver meaningful financial education to children and young people across the UK. Here at the Money and Pensions Service (MaPS), we lead on a vast programme of policy, research, and insight to understand what works in the provision and...

The role that parents and carers play in talking to their children about money is key. If you’re involved in delivering or designing financial education support initiatives for parents and families, these reports will help to inform your policy development and practical solutions. The Money and Pensions Service (MaPS) coordinates the UK Strategy for Financial Wellbeing by...

Read the full press release on the Pensions Dashboards Programme website For media enquiries contact:MaPS Press Office  020 8132 5284  /  media@maps.org.ukMia Cochrane 020 8132 4395 / mia.cochrane@maps.org.uk

The Money and Pensions Service (MaPS) has responded to the announcement of the Nesta Rapid Recovery Challenge semi-finalists. Sarah Porretta, the Money and Pensions Service Strategy and Insights Director said: “We’re looking forward to seeing how these initiatives, including the winners from the financial recovery strand we are supporting, will help meet the financial wellbeing needs...

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

Pension guidance data – first quarterly report

Helplines forecast a call about debt every four minutes in January

Testing what works and addressing gaps in financial education: seven pilots for children and young people

Evaluation of embedding Talk, Learn, Do in Wales

Data standards for pensions dashboards announced

Media comment: Nesta Rapid Recovery Challenge

Managing money in uncertain times