Press releases

The Money and Pensions Service (MaPS) is encouraging people to pay extra attention to their financial wellbeing during the coronavirus pandemic, and to consider what protective steps they can take now to avoid money worries later on. With coronavirus likely to cause disruption for a significant amount of time this year, the government-backed organisation is urging people to spend some time...

57% of those who have experienced a recent mental health problem say thinking about their financial situation makes them anxiousEven 26% of people who have not experienced a recent mental health problem report the same concern, yet one in five do not seek helpThe Money and Pensions Service (MaPS) encourages people to seek free guidance from MoneyHelper for money worries this Mental Health...

People with mental health problems are four times as likely to be behind on priority bills1 than people who do notThis Mental Health Awareness Week, the Money and Pensions Service (MaPS) and Rethink Mental Illness are urging healthcare practitioners to refer patients receiving mental health crisis treatment into the Mental Health Crisis Breathing Space (MHCBS) schemeMHCBS places an immediate...

Current and former employees of P&O are urged not to make any quick decisions about their pension following recent media reports. The Financial Conduct Authority (FCA), the Pensions Regulator (TPR) and the Money and Pensions Service (MaPS) are raising their concerns given the heightened risk of pension transfers following recent redundancies. The FCA and TPR warn that transferring out...

Caroline Siarkiewicz, Chief Executive of the Money and Pensions Service said: “Many people watching today’s Spring Statement might be worried about managing their money in these uncertain times. Our research shows more than one in three admit to feeling worried when thinking about money matters, and nearly half admit they don’t feel confident in managing their money day to day. “If you...

MaPS is committed to ensuring the best possible outcome from the debt advice commissioning process for clients, and making sure the services we fund in England are inclusive and accessible to people with different needs and from diverse backgrounds. To support this, we undertake Equality Impact Assessments (EIAs) at an early stage of procurement so that we can understand and evaluate the...

New research reveals those with higher financial wellbeing are much more likely to be content with their lives than those earning top salaries Financial wellbeing involves feeling secure and in control, making the most of your money day to day and dealing with the unexpected16 million UK adults1 have lower financial wellbeing, meaning they are more likely to be less satisfied...

The Debt Advice Peer Assessment Scheme (DAPA) as a quality assurance testing mechanism will cease on the 31st of March 2022. The last case files to be assessed under DAPA have been received and will be being marked and assessed during January and February with final reports being produced in March. In recognition of the resource challenges and attrition occurring within the...

Through the current commissioning process for England, MaPS’ core objective is to make free of charge debt advice available to more people who need it and ensuring the needs of people in vulnerable circumstances are met, whilst achieving best value for money. Our modelling shows that more and more people will need this expert debt advice over the months and years ahead, including as a...

Caroline Siarkiewicz, Chief Executive of the Money and Pensions Service said: “This latest ruling from the Advertising Standards Authority (ASA) is a welcome development for those who are struggling with debt. This type of advertising has the potential to refer people to a debt solution that may not be suitable for their circumstances and lead to further problems down the line. “We know...

People urged to consider financial wellbeing during coronavirus pandemic

More than half of people with mental health problems feel anxious when thinking about money

Healthcare practitioners urged to support clients to access Mental Health Crisis Breathing Space from debt enforcement action

FCA, TPR and MaPS joint statement on P&O defined benefit pension schemes

Media comment: Spring Statement 2022

Money and Pensions Service (MaPS) statement on Equality Impact Assessments for debt advice commissioning

Beat the blues by focusing on financial wellbeing

Money and Pensions Service (MaPS) statement: update on MaPS Quality Assurance Framework

Money and Pensions Service (MaPS) statement: update on debt advice commissioning

Media comment: ASA ruling

Managing money in uncertain times