saving

Lab pilots: Nationwide Building Society project We know that making a habit of saving money is crucial to developing long-term financial wellbeing. Yet over 10 million working aged people in the UK do not save regularly – with 2 million people not having any savings at all. Without this savings buffer, people could be left vulnerable to unexpected costs and unmanageable debt,...

Many people who need help with their money are unaware of, unable or unwilling to receive support. Evidence suggests that people can be effectively reached and engaged with money help through other familiar channels and systems. Our Savings and Credit Pathfinders Programme aimed to design and explore ways to do this in practice and at scale, funding twelve projects across three...

New research shows saving through a workplace payroll scheme can turn employees into regular savers1.Payroll savers are more likely to save frequently than non-members, with results suggesting that more employers should consider offering payroll saving across the UK New research funded by the Money and Pensions Service (MaPS) shows that 7 in 10 employees enrolled in a workplace payroll...

A guide to increasing take up of the savings option on the Standard Financial Statement or its equivalent The Money and Pensions Service (MaPS) has developed behavioural science ‘nudges’ to encourage debt advice clients to save or continue saving during their debt plan. These nudges can be used by debt advisers when establishing or reviewing solutions. While not everyone’s...

Policy managers Zoe Renton and David Marjoribanks share six pilots funded by the Money and Pensions Service (MaPS) to test scalable ways to build financial wellbeing. Children and Young People Pathfinders: testing the delivery of financial education at scale Our £1.8m Children and Young People (CYP) Pathfinder programme tests the delivery of financial education at...

Nest Insight have today published the first of a series of briefing papers on their sidecar savings trial. Michael Royce, Senior Policy and Proposition Manager at the Money and Pensions Service said: “Evidence suggests that being able to build short-term savings for goals and emergencies is a key component of financial wellbeing. But we also know that many barriers to saving exist which...

Over a third of over-50s leave retirement finance planning late or won’t plan at all Half of those recently retired advise Gen X to start planning earlier 35% of retirees said they left planning to the last two years or didn’t plan at all Over a third (37%) of over 50s are...

MaPS research to help shape future rules and regulations Behavioural trials to establish the best way to persuade more people to take guidance from Pension Wise before accessing their pension savings are getting under way under the leadership of the Money and Pensions Service (MaPS). The research, being conducted by respected specialists the Behavioural Insight Team, is trying out two...

57% of UK adults don’t know you can access your pension early due to severe ill health56% don’t know they can contribute to a pension while on parental leave Almost two thirds don’t know self-employed can benefit from tax relief on pension savings More than half of UK adults didn’t know they can contribute to their pension while on parental leave, or that they can access their pension...

Two Yorkshire employers test new approaches to encourage workforce saving via credit unions Initial findings show payroll savers are more likely to regularly put money away New research funded by the Money and Pensions Service will test how saving through a workplace payroll scheme can help people improve their financial wellbeing, and ultimately encourage more employers across the UK to...

Developing saving habits through prize-linked savings accounts

The Savings and Credit Pathfinders Programme – evaluation report

Rebuilding financial wellbeing: New research shows workplace saving schemes could help low income earners grow their rainy-day savings

Encouraging debt advice clients to save using behavioural science

Building financial wellbeing at scale: six pilots for children and working-age adults

Media comment: Nest Insight sidecar savings trial

3 million over-50s will leave planning retirement finances to final two years before stopping work

Nudging savers towards pensions guidance: behavioural trials begin

Parental leave, self-employment and ill-health are UK’s pensions blind spots

New research examines benefits of workplace payroll saving on staff financial wellbeing

Managing money in uncertain times