Press releases | The Money and Pensions Service

Helplines for people with money worries are gearing up for one of the busiest times of the year, with a call about debt expected every four minutes throughout January1 at the Money and Pensions Service (MaPS)2. Last year, nearly 3,500 debt calls were made to the free Money Advice Service (MAS) helpline (on 0800 138 7777) in January, while there were 26,000 visits to the MAS debt advice...

Commenting on today’s announcement of a Pension Schemes Bill, Chris Curry, Principal Director of the Pensions Dashboards Industry Delivery Group at MaPS, said: “To ensure pensions dashboards are a trusted and valuable service, they need the right robust framework in place. Our work is progressing, and the measures set out in the Pensions Schemes Bill are another essential part of...

Commenting on today’s news about the future of Mothercare, Caroline Siarkiewicz, Acting Chief Executive at the Money and Pensions Service, said: “This is an incredibly difficult time for Mothercare’s employees, who will be worrying about their pay, pensions and financial security. Pensions are protected but staff are bound to have questions about what happens next. “If anyone...

MaPS research to help shape future rules and regulations Behavioural trials to establish the best way to persuade more people to take guidance from Pension Wise before accessing their pension savings are getting under way under the leadership of the Money and Pensions Service (MaPS). The research, being conducted by respected specialists the Behavioural Insight Team, is trying out two...

Commenting on the announcement that QuickQuid will close its operations in the UK, Caroline Siarkiewicz, Acting Chief Executive at the Money and Pensions Service, said: “Many QuickQuid customers will be feeling uncertain about what this means for them. While you may be tempted to stop your repayments, it is crucial to keep to your regular schedule, because if you have entered into...

57% of UK adults don’t know you can access your pension early due to severe ill health56% don’t know they can contribute to a pension while on parental leave Almost two thirds don’t know self-employed can benefit from tax relief on pension savings More than half of UK adults didn’t know they can contribute to their pension while on parental leave, or that they can access their pension...

Two Yorkshire employers test new approaches to encourage workforce saving via credit unions Initial findings show payroll savers are more likely to regularly put money away New research funded by the Money and Pensions Service will test how saving through a workplace payroll scheme can help people improve their financial wellbeing, and ultimately encourage more employers across the UK to...

The Money and Pensions Service has been asked to take a leading role in delivering the infrastructure to support pensions dashboards – this is being taken forward by a delivery group, supported by a steering group representing the pensions sector, consumers and fintech. Commenting on today’s announcement of a Pensions Schemes Bill, which includes new powers to compel pension...

Money and Pensions Service announces 10 appointments to represent consumers, fintechs and the pensions sector Ten people who will work on the practicalities of establishing pensions dashboards services and making them available for use by the general public are today being named by the Money and Pensions Service. Pensions dashboards will ensure...

Following the collapse of Thomas Cook, Jackie Spencer, Senior Policy and Propositions Manager at the Money and Pensions Service, said: “This is a difficult time for thousands of travellers but there are also thousands of Thomas Cook 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...

New year debt blues: debt call every four minutes expected through January

Queen’s Speech comment: Pension Schemes Bill supports progress towards delivering pensions dashboards

Media comment: MaPS guidance for Mothercare employees

Nudging savers towards pensions guidance: behavioural trials begin

QuickQuid closure: Guidance for customers

Parental leave, self-employment and ill-health are UK’s pensions blind spots

New research examines benefits of workplace payroll saving on staff financial wellbeing

Queen’s Speech comment: Crucial next step towards delivering pensions dashboards

Pensions dashboards progress: steering group appointed to drive forward the delivery of service for savers

Media comment: Thomas Cook collapse – guidance for employees

Coronavirus and personal finances