Press releases | The Money and Pensions Service

Andrew Johnson, money expert at the Money and Pensions Service said: “The extension of support measures confirmed today for credit card, personal loan and overdraft customers could be helpful for people who are experiencing temporary payment difficulties, as we know that Covid-19 is continuing to affect people’s finances. It’s really important that people speak to their lenders to find out...

Over 1 million people have already looked to the Money and Pensions Service for help with impact of Covid-19Money Navigator tool will help many people find money support now to avoid future debt problems The Money and Pensions Service is launching a new online tool to help people navigate their finances in the wake of Covid-19 and avoid financial issues worsening in future, as the...

Commenting on the news that payday lender Sunny has gone into administration, Craig Simmons, Head of Debt Policy and Strategy at the Money and Pensions Service, said: “This will be an uncertain time for Sunny customers. While you may be tempted to stop your repayments, it is usually best to keep to your regular schedule so you fulfil the loan agreement you have entered into. If you miss...

The Pensions Dashboards Programme is entering the next stage of the process to build the technology which will enable individuals to view all their pensions via their chosen dashboard. The Pensions Dashboard Programme (PDP), set up by the Money and Pensions Service (MaPS), has responsibility for designing and implementing the ecosystem which will make pensions dashboards work. Today...

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...

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...

A new group of top-level executives from the worlds of finance, consumer rights, research and technology is being convened to ensure the Money and Pensions Service (MaPS) delivers on its mission of everyone making the most of their money and pensions, and so that the UK Strategy for Financial Wellbeing is as successful as possible in hitting its ambitious ten year goals. Unveiled by the...

Media comment: FCA’s continued support of credit customers

New online tool to help people navigate finances in the wake of coronavirus

Sunny collapse: Guidance for customers

Pensions Dashboards Programme starts market engagement

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

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

Guardians of Financial Wellbeing: New advisory group to Money and Pensions Service Board

Coronavirus and personal finances