Press releases | The Money and Pensions Service

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...

Five priority areas to help people make the most of their money and pensions A new UK-wide strategy to transform the country’s financial wellbeing in a decade is being launched today by the Money and Pensions Service (MaPS) under its government mandate. Delivering on the strategy will transform the lives of many individuals, benefitting communities, businesses, the economy and wider...

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...

Commenting on the collapse of rent-to-own firm Brighthouse, Andrew Johnson, Money Expert at the Money and Pensions Service, said: “Even though Brighthouse has gone into administration, customers should still keep up with their normal repayments unless a payment holiday has already been agreed. At this particularly difficult time for many families, anyone who is going to struggle to make...

Chancellor Rishi Sunak has today announced details of a package to help support people who are self-employed during the coronavirus outbreak – the Self-Employed Income Support Scheme. MaPS money expert Nick Hill said: “This is an extremely worrying and uncertain time for everyone, and particularly people who work for themselves. While the package announced by the government is being put...

Commenting on the Budget Nick Hill, money expert at the Money and Pensions Service said: “The government has announced changes to the way statutory sick pay works for people who contract coronavirus or have to miss work as they have been advised to self-isolate. Your rights depend on your employment status and earnings. If you’re an employee, you should be entitled to statutory sick pay...

Following the collapse of Flybe, Andrew Johnson, money expert at the Money and Pensions Service, said: “This is a difficult time for thousands of travellers but there are also hundreds of Flybe workers who will be very worried about their pay, pensions and overall financial security as a result of this news. Staff should check what they’re entitled to from their employer, including...

Challenge Group chairs will work towards the goals set in the UK Strategy for Financial Wellbeing 11 sector leaders who will head up cross-industry groups set up to help transform financial wellbeing are being named today by the Money and Pensions Service (MaPS). They will chair Challenge Groups which will recommend how the UK can achieve the five national goals set out in the...

Scams training open to community services such as firefighters, GP practice staff and librarians Frontline workers in Wales such as carers and emergency services staff will receive training to help protect people from financial scammers, as part of support offered by the Money and Pensions Service. Public education about financial scams is crucial, when 50% of adults in Wales (1.3m) do...

New trials to see housing, mental health and ex-offender support workers trained as ‘money supporters’ New trials are looking to build on evidence that training frontline support workers in money guidance can help the UK’s most vulnerable people to address and avoid financial problems such as going into debt. Funded and coordinated by the Money and Pensions Service (MaPS), the trials...

People urged to consider financial wellbeing during coronavirus pandemic

UK Strategy for Financial Wellbeing sets out ten-year vision to improve millions of lives

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

Collapse of rent-to-own firm Brighthouse: media comment from the Money and Pensions Service

Self-employed income support scheme: media comment from the Money and Pensions Service

Media comment: Budget announcement

Media comment: Flybe collapse – guidance for employees

11 sector leaders named who will help shape the UK’s future financial wellbeing

Frontline workers in Wales to join the fight against financial scammers

Frontline first responders could help the UK’s most vulnerable avoid spiralling into debt