coronavirus

Money and Pensions Service (MaPS) Chief Executive Caroline Siarkiewicz highlights MaPS work to transform debt advice to help those in need. We know that debt advice works. It works for the people who receive it, and it works for society as a whole, benefitting the UK by up to £960 million a year. We also know that those delivering debt advice provide support that can transform...

Money and Pensions Service (MaPS) Chief Executive Caroline Siarkiewicz looks back at our work in 2021 and goals for the coming year. I’m sure we will all agree that 2021 has been a challenging year both for individuals and organisations. In light of those challenges, I am particularly proud of the work that we have done with our partners and...

Overview We at the Money and Pensions Service (MaPS) want to understand the effect that the closure of face-to-face public services during the Covid-19 pandemic has on the accessibility and delivery of debt advice in the UK. While we know the temporary removal of common “triggers” for debt advice at the start of the pandemic led to a drop in demand for debt advice services, anecdotally...

55% of people don’t feel comfortable opening up when they have worries about their financial situationDespite 48% admitting they have regularly worried about money recentlyiTop reasons for bottling up money worries include shame, not wanting to burden others and claiming they were brought up to avoid talking about money A new study into the financial behaviours of UK adults, released today...

40% of people are keeping secrets from loved ones about credit cards, loans and savingsPeople are most likely to keep money secrets from their partnerMillennials (25-34 year-olds) most secretive generation, with three in five (59%) hiding money products UK adults have kept at least 21 million2 financial products secret from their loved ones, according to a new study of people’s financial...

MaPS responds to the FCA’s press release highlighting the continued support for consumers struggling with payments. James Fearnley, Corporate Policy and Propositions Manager at the Money and Pensions Service said: “It’s crucial that people who are struggling to make credit and mortgage repayments don’t suffer in silence, particularly those who have been hit hardest by the financial...

Jemma Waters leads the Responsible Transformation team at Lloyds Banking Group (LBG), working on initiatives to drive positive societal impact and sustainability through technology. As part of this, Jemma’s team deliver the LBG commitment to the digital inclusion and skills agenda, providing confidence and capability support via the Lloyds Bank Academy and a colleague volunteer Digital...

The Independent Challenge Chairs for the UK Strategy for Financial Wellbeing have today published their report Building the UK’s financial wellbeing in the light of Covid-19. Sir Hector Sants, MaPS Chair, said: “When, at the start of 2020, MaPS invited 140 industry leaders to join the independent Challenge Groups to work towards the National Goals of the UK Strategy for Financial...

Valentine Mulholland, Senior Policy and Propositions Manager at the Money and Pensions Service said: “The measures confirmed today will be helpful for people with credit or overdraft commitments who continue to face financial difficulty after the end of October. If people are still struggling with their finances at the end of payment holidays, they shouldn’t suffer in silence. It’s crucial...

Chancellor Rishi Sunak has today announced details of a new Job Support Scheme amongst a package of other measures to support business and workers impacted by coronavirus over the coming months. Alex Connolly, Chief Operating Officer at the Money and Pensions Service said: “We know how worried many people are about money right now, including those whose jobs continue to be impacted by...

Driving forward change to support those in need

2021: Looking back, looking forward

Call for evidence on access to debt advice during the Covid-19 pandemic

Shame, upbringing and burdening others: why 29 million UK adults don’t feel comfortable talking about money despite feeling worried about it

21 million money S£CR£TS kept from loved ones across the UK

Media comment: FCA’s continued support for consumers struggling with payments

Four ingredients for digital inclusion

MaPS Chair Sir Hector Sants responds to Building the UK’s financial wellbeing in the light of Covid-19 report

Media comment: FCA’s continued support for consumer credit and overdraft customers

Media comment: Job Support Scheme and money guidance

Managing money in uncertain times