The Money and Pensions Service (MaPS) has responded to the announcement of the Nesta Rapid Recovery Challenge semi-finalists.
Sarah Porretta, the Money and Pensions Service Strategy and Insights Director said:
“We’re looking forward to seeing how these initiatives, including the winners from the financial recovery strand we are supporting, will help meet the financial wellbeing needs of those hardest hit by the pandemic, especially young people, women, BAME communities and workers on lower or more uncertain incomes.
“Ultimately, these pioneering ideas will contribute towards the ambitious goals we have set for our UK Strategy for Financial Wellbeing through engaging children and young people in financial education, building savings habits and considering alternatives to using credit for everyday expenses.”
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About the Money and Pensions Service
The Money and Pensions Service (MaPS) is here to ensure every person feels more in control of their finances throughout their lives: from pocket money to pensions. When they are, communities are healthier, businesses are more prosperous, the economy benefits and individuals feel better off. MaPS delivers free and impartial money and pensions guidance to the public through the Money Advice Service, The Pensions Advisory Service and Pension Wise.
MaPS is working to make sure the whole of the UK understands that financial, physical and mental health are all deeply connected. MaPS’ role is to connect organisations with the shared purpose of achieving the five goals set out in the UK Strategy for Financial Wellbeing.
MaPS supports innovation so that everyone can use the most effective methods to help people feel more in control of their money, targeted to those most in need and inclusive of people from all backgrounds. MaPS is an arm’s-length body sponsored by the Department for Work and Pensions (DWP).