The Pensions Advisory Service (TPAS) was a British government body that provided free information, advice and guidance on state, company and individual

pension scheme A pension (; ) is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work. A pension may be either a "Defined benefit pension pla ...

s. Additionally they helped any member of the public who had a problem, complaint or dispute with their

occupational Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other ...

private pension A private pension is a plan into which individuals privately contribute from their earnings, which then will pay them a pension after retirement. It is an alternative to the state pension. Usually, individuals invest funds into saving schemes or m ...

arrangement. It was merged in 2019 to create its successor the

Money and Pensions Service 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 ...

. While it was operating it structured as a

non-departmental public body In the United Kingdom, non-departmental public body (NDPB) is a classification applied by the Cabinet Office, Treasury, the Scottish Government, and the Northern Ireland Executive to public sector organisations that have a role in the process o ...

and independent non-profit

company limited by guarantee A company limited by guarantee (CLG) is a type of company where the liability of members in the event the company is wound up is limited to a (typically very small) amount listed in the company's articles or constitution. Most have no share ca ...

in the United Kingdom. It was funded by receiving grants from

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 ...

. The service was provided by a nationwide network of volunteer advisers with the required knowledge and experience who were supported and augmented by a technical and administrative staff based in

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

History

In January 2019 the UK government launched the

, 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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Money and Pensions Service

MoneyHelper
{{DEFAULTSORT:Pensions Advisory Service Consumer organisations in the United Kingdom Defunct non-departmental public bodies of the United Kingdom government Department for Work and Pensions Pensions in the United Kingdom Personal finance education Private companies limited by guarantee of the United Kingdom