Press releases | The Money and Pensions Service

55% of people don’t feel comfortable opening up when they have worries about their financial situationDespite 48% admitting they have regularly worried about money recentlyiTop reasons for bottling up money worries include shame, not wanting to burden others and claiming they were brought up to avoid talking about money A new study into the financial behaviours of UK adults, released today...

The Money and Pensions Service response to the pledge campaign launched by the Pensions Regulator. Charlotte Jackson, Head of Pensions Operations and Consumer Protection at the Money and Pensions Service said: “We welcome the Pensions Regulator’s important call to action on pension scams. It’s vital that we work together with pension providers, trustees and administrators to help...

40% of people are keeping secrets from loved ones about credit cards, loans and savingsPeople are most likely to keep money secrets from their partnerMillennials (25-34 year-olds) most secretive generation, with three in five (59%) hiding money products UK adults have kept at least 21 million2 financial products secret from their loved ones, according to a new study of people’s financial...

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...

Shame, upbringing and burdening others: why 29 million UK adults don’t feel comfortable talking about money despite feeling worried about it

Media comment: response to Pensions Regulator pledge campaign

21 million money S£CR£TS kept from loved ones across the UK

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

Coronavirus and personal finances