pensions

Research conducted by the Behavioural Insights Team on behalf of the Money and Pensions Service (MaPS) tested two potential routes when customers asked their providers about access to their workplace savings, either offering to make a Pension Wise appointment for them or transferring them to a member of the Pension Wise booking team who could explain the offer and make an appointment. This...

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...

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...

The Pensions Dashboards Programme Progress Update Report sets out progress made so far and the work that needs to be undertaken before the service launches to the public. The report spells out the scale of the task – involving 52 million adults being connected to up to around 43,000 providers and schemes. Existing challenges include establishing a sufficiently secure identity...

A priority element of the Pensions Dashboards Programme’s work is the development of the data standards. To aid progress in this area, we have articulated our current thinking in two documents. This paper sets out options for achieving comprehensive coverage across all pension sectors to deliver an acceptable early breadth of coverage for individuals. Industry views will be sought on...

A priority element of the Pensions Dashboards Programme’s work is the development of the data standards. To aid progress in this area, we have articulated our current thinking in two documents. This paper explores the depth of information dashboards could show. It lists the set of data items that could be included in the dashboards data standards. This thinking will need to be developed...

Today (Wednesday 1 April), regulators are urging savers to keep calm and not rush to make any decisions about their pension in response to the COVID-19 pandemic. The Pensions Regulator (TPR) and the Financial Conduct Authority (FCA), supported by the Money and Pensions Service (MaPS), say fears over the impact of the pandemic on markets and personal finances may make savers more...

Our Strategy and Insights Director Sarah Porretta tells a tale of love and pensions for International Women’s Day. Are you sitting comfortably? Let me tell you a story, one that’s playing out in households across the UK right now: Sam and Alex are thirtysomethings with two kids. They decided a few years ago it made sense for Alex to work part time, as the childcare fees...

Richard Smith, Industry Lead at the Industry Delivery Group (IDG), provides an update on activity relating to the industry working groups, looking at expressions of interest, resourcing, data scope, research with pension providers and schemes, and the latest stage of the Pension Schemes Bill. I joined the pensions dashboards programme in mid-November 2019 as Industry Lead with...

Pension Wise: the stronger nudge

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

Covid-19: Perspectives from the money guidance front line

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

Pensions Dashboards Programme Progress Update Report: April 2020

Pensions Dashboards Data Scope: working paper

Pensions Dashboards Data Definitions: working paper

COVID-19: Savers – stay calm and don’t rush financial decisions

Love and money: A pension penalty story

Pensions dashboards: moving forward with working groups

Managing money in uncertain times