Press releases Uncategorised

Media comment: Nesta Rapid Recovery Challenge

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...
Consultations and responses Uncategorised

Consultation response | Review into change and innovation in the unsecured credit market – the Woolard Review

The Money and Pensions Service welcomes the opportunity to provide evidence and views to this Call for Input into change and innovation in the unsecured credit market. As an organisation supporting people to make the most of their money and pensions, we have focused our responses on the questions focused on the areas of consumer benefit and potential for consumer detriment from the unsecured...
Financial wellbeing blog Uncategorised

Building financial wellbeing at scale: six pilots for children and working-age adults

Policy managers Zoe Renton and David Marjoribanks share six pilots funded by the Money and Pensions Service (MaPS) to test scalable ways to build financial wellbeing. Children and Young People Pathfinders: testing the delivery of financial education at scale Our £1.8m Children and Young People (CYP) Pathfinder programme tests the delivery of financial education at...
Press releases Uncategorised

Media comment: FCA’s research into financial wellbeing

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...
Press releases Uncategorised

Media comment: FCA’s review of re-lending by firms that offer high-cost credit

James Fearnley, Corporate Policy & Propositions Manager at the Money and Pensions Service said: “It’s good the FCA has examined the important issue of re-lending practices. Given the report was conducted before the extra hit from Covid-19 it’s now even more important that consumers take time when making decisions and bear in mind the long-term implications of using high-cost credit....
Financial wellbeing blog Uncategorised

Credit Counts: Reviewing how the UK uses credit

The Covid-19 crisis has seen consumers having to take payment holidays to get them through. Ben Page, CEO of Ipsos MORI and chair of a steering group on credit use, explores which consumers use credit for essentials, how coronavirus has impacted credit use, and how the UK Strategy for Financial Wellbeing is responding. I was honoured to be invited to chair the Use of Credit Challenge...
Press releases Uncategorised

Media comment: “Start work now to get finances back on track” – MaPS comment on payment deferral figures

Responding to figures released today by UKFinance, showing there have been payment deferrals on more than 1.7 million credit cards and personal loans in the wake of Covid-19, Valentine Mulholland, Senior Policy and Propositions Manager at the Money and Pensions Service, said: “Payment breaks on mortgages, credit cards, loans and other products have been a lifeline during the...
Financial wellbeing blog Uncategorised

Mental health and money: how Covid-19 could create the perfect storm

This Mental Health Awareness Week, the chief executives of Mind and the Money and Pensions Service talk about the increasingly familiar link between money and mental health, and how the mental health and financial sectors are working together to respond to people’s changing needs during the coronavirus outbreak and beyond. Paul Farmer, CEO of Mind Money and mental health are often...
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