Press releases

First version of data standards due in December 2020 Indicative timing for availability of pensions dashboards laid out Read the full press release on the Pensions Dashboards Programme website For media enquiries contact:MaPS Press Office  020 8132 5284  /  media@maps.org.ukMia Cochrane 020 8132 4395 / mia.cochrane@maps.org.uk

MaPS responds to the FCA’s research into understanding consumer financial wellbeing through banking data. James Fearnley, Corporate Policy and Propositions Manager at the Money and Pensions Service said: “We welcome the publication of this valuable report, which matches consumers’ perceptions of their own wellbeing with banks’ transactional data, such as...

MaPS responds to the FCA’s press release highlighting the continued support for consumers struggling with payments. James Fearnley, Corporate Policy and Propositions Manager at the Money and Pensions Service said: “It’s crucial that people who are struggling to make credit and mortgage repayments don’t suffer in silence, particularly those who have been hit hardest by the financial...

The Independent Challenge Chairs for the UK Strategy for Financial Wellbeing have today published their report Building the UK’s financial wellbeing in the light of Covid-19. Sir Hector Sants, MaPS Chair, said: “When, at the start of 2020, MaPS invited 140 industry leaders to join the independent Challenge Groups to work towards the National Goals of the UK Strategy for Financial...

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...

97% of appointment customers have already recommended the service to others or say they would do so 91% of appointment customers said Pension Wise helped them consider their options more thoroughlyMore than threefold increase in overall Pension Wise transactions since the service began Rising numbers of people accessed guidance offered by Pension Wise in...

Valentine Mulholland, Senior Policy and Propositions Manager at the Money and Pensions Service said: “The measures confirmed today will be helpful for people with credit or overdraft commitments who continue to face financial difficulty after the end of October. If people are still struggling with their finances at the end of payment holidays, they shouldn’t suffer in silence. It’s crucial...

Chancellor Rishi Sunak has today announced details of a new Job Support Scheme amongst a package of other measures to support business and workers impacted by coronavirus over the coming months. Alex Connolly, Chief Operating Officer at the Money and Pensions Service said: “We know how worried many people are about money right now, including those whose jobs continue to be impacted by...

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...

First funds will help agencies maintain pre-pandemic levels of debt advice Work has commenced to bring 500 new debt advisers into the sector The need for debt advice is expected to increase by 60% over the next 18 months The first tranche of an additional £37.8 million to fund extra debt advice and other money support for people affected by Covid-19 has been allocated by the Money and...

Timeline for development of pensions dashboards announced

Media comment: FCA’s research into financial wellbeing

Media comment: FCA’s continued support for consumers struggling with payments

MaPS Chair Sir Hector Sants responds to Building the UK’s financial wellbeing in the light of Covid-19 report

Media comment: Nest Insight sidecar savings trial

Pension Wise appointments see 23% increase in 19/20

Media comment: FCA’s continued support for consumer credit and overdraft customers

Media comment: Job Support Scheme and money guidance

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

Additional £38 million for debt advice funding in England goes into action

Coronavirus and personal finances