coronavirus

Professor Dame Carol Black, Chair of the Centre for Ageing Better, and Emma Douglas, Head of DC at Legal & General Investment Management, address later life and long-term saving, including barriers to financial wellbeing, initiatives that could drive change, and what motivates them as chairs within the UK Strategy for Financial Wellbeing. We pay a lot of attention to...

I’m sure like many people, here at MaPS we’ve felt the shock, uncertainty and concern caused by the COVID 19 pandemic. The past few months will have impacted all of us in some way, and MaPS has been particularly focused on the impact on people’s financial wellbeing – both in the here and now but also looking ahead to more longer-term effects. We shared back in June that we expect the...

First funds will help agencies maintain pre-pandemic levels of debt advice Work has commenced to bring 500 new debt advisers into the sector The need for debt advice is expected to increase by 60% over the next 18 months The first tranche of an additional £37.8 million to fund extra debt advice and other money support for people affected by Covid-19 has been allocated by the Money and...

Carolyn Jones, pensions expert at the Money and Pensions Service said: “We know that Coronavirus has lead to an increase in uncertainty but it’s crucial not to rush into any pension decisions. A small amount of time on the phone with a pension specialist could make all the difference, helping you to avoid risking the retirement savings you’ve built up over your working life. For free...

James Fearnley, Corporate Policy & Propositions Manager at the Money and Pensions Service said: “It’s good the FCA has examined the important issue of re-lending practices. Given the report was conducted before the extra hit from Covid-19 it’s now even more important that consumers take time when making decisions and bear in mind the long-term implications of using high-cost credit....

The Covid-19 crisis has seen consumers having to take payment holidays to get them through. Ben Page, CEO of Ipsos MORI and chair of a steering group on credit use, explores which consumers use credit for essentials, how coronavirus has impacted credit use, and how the UK Strategy for Financial Wellbeing is responding. I was honoured to be invited to chair the Use of Credit Challenge...

Responding to figures released today by UKFinance, showing there have been payment deferrals on more than 1.7 million credit cards and personal loans in the wake of Covid-19, Valentine Mulholland, Senior Policy and Propositions Manager at the Money and Pensions Service, said: “Payment breaks on mortgages, credit cards, loans and other products have been a lifeline during the...

Andrew Johnson, money expert at the Money and Pensions Service said: “The extension of support measures confirmed today, including for motor finance and high-cost credit customers, could be helpful for people who are experiencing temporary payment difficulties, as we know that Covid-19 is continuing to affect people’s finances. It’s really important that people speak to firms to find out...

Andrew Johnson, money expert at the Money and Pensions Service said: “The extension of support measures confirmed today for credit card, personal loan and overdraft customers could be helpful for people who are experiencing temporary payment difficulties, as we know that Covid-19 is continuing to affect people’s finances. It’s really important that people speak to their lenders to find out...

Over 1 million people have already looked to the Money and Pensions Service for help with impact of Covid-19Money Navigator tool will help many people find money support now to avoid future debt problems The Money and Pensions Service is launching a new online tool to help people navigate their finances in the wake of Covid-19 and avoid financial issues worsening in future, as the...

Pensions Awareness Week interviews: long-term saving and later life

Update on debt advice funding in the wake of Covid-19

Additional £38 million for debt advice funding in England goes into action

Media comment: FCA Pension savers claim over £30 million lost to scams

Media comment: FCA’s review of re-lending by firms that offer high-cost credit

Credit Counts: reviewing how the UK uses credit

Media comment: “Start work now to get finances back on track” – MaPS comment on payment deferral figures

Media comment: FCA’s continued support of car finance and high-cost credit customers

Media comment: FCA’s continued support of credit customers

New online tool to help people navigate finances in the wake of coronavirus

Managing money in uncertain times