coronavirus

47 million adults across the UK don’t find it easier to talk money or don’t discuss at all Nine in ten people still do not find it easier to talk about finances during the Covid-19 pandemic or do not discuss money with anyone, according to the Money and Pensions Service (MaPS), which is urging the UK to start talking money now to avoid harm to people’s overall wellbeing. Despite...

Three strategic priorities for 2020/21 to help people make the most of their money and pensions The Money and Pensions Service (MaPS) has today published its Corporate Plan for 2020/21, outlining the organisation’s strategic priorities and its immediate response to the coronavirus outbreak. The plan was due to be published at the beginning of April but has been delayed to allow a review...

Money and Pensions Service predicts UK need for debt help will increase 60% by the end of 2021People urged to take action as soon as possible, to avoid debt problems in the future An additional £37.8 million to fund the provision of debt advice and other support for people suffering money difficulties in the wake of the coronavirus outbreak has been secured by the Money and Pensions...

Commenting on the measures announced today by the FCA into the Defined Benefit pension transfer market, Carolyn Jones, Head of Pension Policy and Strategy at the Money and Pensions Service, said: “The FCA is right to say it will be in most people’s best interests to remain in their Defined Benefit pension but we recognise that everyone’s situation is different. Some people may be...

Covid-19 has had, and will continue to have, a major impact on our lives and those of our customers. As an organisation we want to try and understand how people’s financial lives are changing, and might change in the future, so that we and our partners can respond in the best way. We have collated and analysed published data from the widest range of sources we could, to...

Commenting on the FCA’s confirmation of the extension of mortgage payment holidays, Andrew Johnson, money expert at the Money and Pensions Service said: “It is positive that flexibility will continue to be available to people facing temporary money issues but it’s really important anyone taking a break from paying their mortgage understands the implications. Your future payments will...

This Mental Health Awareness Week, the chief executives of Mind and the Money and Pensions Service talk about the increasingly familiar link between money and mental health, and how the mental health and financial sectors are working together to respond to people’s changing needs during the coronavirus outbreak and beyond. Paul Farmer, CEO of Mind Money and mental health are often...

Quality and Training Executive Ivy Milazzi and guiders from our contact centres share their experiences of responding to the increased need for money guidance during Covid-19. Coronavirus has had a financial impact on so many people who experienced income shocks and changes to their circumstances almost overnight. We had to make changes just as suddenly to meet their money guidance...

Before the UK entered lockdown, we issued a notice to our stakeholders to share how we were continuing to deliver services for our customers, collaborate with partners and prioritise the wellbeing of MaPS employees. Six weeks on, MaPS CEO Caroline Siarkiewicz updates on our response to Covid-19. The current pandemic is not just hitting people’s physical health...

Commenting on the FCA’s proposals to help motor finance and high cost credit customers during the Covid-19 crisis, Nick Hill, money expert at the Money and Pensions Service said: “The new measures proposed today provide a new option for customers using motor finance and high-cost credit, and could be helpful for people who are experiencing temporary payment difficulties. When these...

Coronavirus worries fail to break down barriers to talking about money for 9 in 10 across the UK

MaPS publishes Corporate Plan detailing key priorities and Covid-19 support

Extra £38 million for debt support in England in the wake of coronavirus

Defined Benefit pension transfers – MaPS urges consumers to get guidance: media comment from the Money and Pensions Service

Covid-19 impacts on financial wellbeing

FCA confirmation of the extension of mortgage payment holidays: media comment from the Money and Pensions Service

Mental health and money: how Covid-19 could create the perfect storm

Covid-19: Perspectives from the money guidance front line

Personal finances and the impact of coronavirus – the role of the Money and Pension Service

FCA proposals to help motor finance and high cost credit customers: media comment from the Money and Pensions Service

Managing money in uncertain times