The Money and Pensions Service (sometimes stylised as Money & Pensions Service or MaPS) is a British organisation whose statutory objective is to develop and co-ordinate a national strategy to improve people's financial capabilities. The service provides impartial, free money and pensions guidance directly to consumers online and by telephone. Through partnerships, it also provides debt advice and pensions freedoms guidance to consumers, along with offering organisations such as employers syndicated money guidance content from its website. The organisation was set up by the UK Government and is paid for by a statutory levy on the financial services industry. It is an arm's-length body of the

Department for Work and Pensions The Department for Work and Pensions (DWP) is a Departments of the Government of the United Kingdom, ministerial department of the Government of the United Kingdom. It is responsible for welfare spending, welfare, pensions and child maintenance ...

. MaPS is the largest funder of debt advice in England. The service's chair is Sir Hector Sants. In January 2020, Caroline Siarkiewicz was appointed as CEO.

History

The service was launched in January 2019, combining the Money Advice Service, The Pensions Advisory Service and Pension Wise to form a single financial guidance body. The decision to merge the organisations into one body was originally announced in March 2016 by

HM Treasury His Majesty's Treasury (HM Treasury or HMT), and informally referred to as the Treasury, is the Government of the United Kingdom’s economic and finance ministry. The Treasury is responsible for public spending, financial services policy, Tax ...

and confirmed in the

Queen's Speech A speech from the throne, or throne speech, is an event in certain monarchies in which the reigning sovereign, or their representative, reads a prepared speech to members of the nation's legislature when a session is opened. The address sets fo ...

of June 2017. In March 2021, MaPS announced that it would be consolidating its three legacy consumer brands into one brand called MoneyHelper, to provide a better and enhanced consumer experience and a single source of information and guidance.

References

External links

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MoneyHelper
{{DEFAULTSORT:Money and Pensions Service 2019 establishments in the United Kingdom Personal finance education HM Treasury Private companies limited by guarantee of the United Kingdom Government agencies established in 2019 Advice organizations