News

Caroline Siarkiewicz, Chief Executive of the Money and Pensions Service said: “This latest ruling from the Advertising Standards Authority (ASA) is a welcome development for those who are struggling with debt. This type of advertising has the potential to refer people to a debt solution that may not be suitable for their circumstances and lead to further problems down the line. “We know...

Today, MaPS is launching an exercise to gather information before we start a procurement exercise to establish an independent Quality Assurance Service that will operate elements of MaPS Quality Assurance Framework. The independent Quality Assurance Service will ensure that all service lines, from regulated debt advice to money and pensions guidance, meet at least the requirements of the...

How can the Money and Pensions Service help connect people with pensions guidance? Many people do not seek freely available financial guidance that could help them to understand and make the most of their pensions. Tailored signposting, delivered at key moments, can help to engage people with financial guidance. Our ‘Smarter Signposting’ lab pilot explored ways that financial institutions...

Understanding how to scale the delivery of effective financial education for young people Evidence suggests that ‘just in time’ financial education can be particularly effective for young people before they embark into financial independence. However, in the UK, less than half of secondary school age children (42%) recall learning about...

Speaker: Money and Pensions Service (MaPS) and The Pensions Regulator MaPS and The Pensions Regulator (TPR) held a joint virtual event on 19 November 2021, ahead of the launch of Pension Safeguarding appointments on 30 November. These appointments will be available for consumers where schemes or providers have signposted them to guidance where ‘amber flags’ have identified there may be a...

Speaker: Money and Pensions Service (MaPS) chair Sir Hector Sants The FCA, in its consultation paper published in May of this year, proposed a new consumer duty to sit above and in tandem with the current principles. It would be designed to provide an overarching standard of conduct. In the FCA’s words the duty is designed to “put firms in the customers shoes” and to ask the...

New financial education guidance for primary and secondary schools in England has been launched today, with the support of the Department for Education (DfE). The guidance, which has been developed by the Money and Pensions Service (MaPS) in its role as coordinator of the 10-year UK Strategy for Financial Wellbeing, is aimed at encouraging conversations about money in the classroom by setting...

The UK Strategy for Financial Wellbeing sets a national goal to ensure that two million more children and young people across the UK receive a meaningful financial education by 2030. This guidance, supported by the Department for Education, aims to support both primary and secondary schools to play their part in achieving this goal. Developed for school leaders, subject leads and...

One in three (36%) say thinking about their financial situation makes them feel worried Those who have lost income due to the pandemic are more likely to have lost confidence in their ability to manage money MoneyHelper launches new tools for Talk Money Week, 8-12 November, to reduce money worries and build financial confidence One in two...

Almost a third (31%) of parents and carers don’t talk to their kids openly about money – missing out on an opportunity to help with children’s vital early understanding of money Parents who are very confident managing everyday finances twice as likely to talk money with kids This Talk Money...

Media comment: ASA ruling

Prior information notice regarding MaPS Quality Assurance Framework

Smarter Signposting to pensions guidance

Financial education for 16 and 17 year olds: pathfinder evaluation

Pension safeguarding, 19 November 2021

FCA Consumer Duty Summit, 18 November 2021

New guidance launched to help schools improve children’s money skills

Financial education guidance for primary and secondary schools in England

24 million UK adults don’t feel confident managing their money. Talk Money Week is here to help.

Up to 4 million parents keep mum on money matters

Managing money in uncertain times