Press releases | The Money and Pensions Service

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...

Commenting on the FCA’s proposals to help motor finance and high cost credit customers during the Covid-19 crisis, Nick Hill, money expert at the Money and Pensions Service said: “The new measures proposed today provide a new option for customers using motor finance and high-cost credit, and could be helpful for people who are experiencing temporary payment difficulties. When these...

The Pensions Dashboards Programme is today publishing its first full report on the progress made so far and the work that needs to be undertaken before the service launches to the public. Commenting on today’s update, Chris Curry, Principal of the Pensions Dashboards Programme at MaPS, said: “The vision of the Pensions Dashboards Programme could not be simpler – to enable...

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...

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

FCA proposals to help motor finance and high cost credit customers: media comment from the Money and Pensions Service

Pensions Dashboards Programme sets out broad plans for future development

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

Coronavirus and personal finances