Financial wellbeing blog Uncategorised

The 3 D’s of Covid

What impact has Covid-19 had on financial wellbeing? Our head of insight Nick Watkins explores on how the pandemic has affected the UK Strategy for Financial Wellbeing goals for financial education, saving, credit use, debt advice and pensions. When we launched the UK Strategy for Financial Wellbeing in January 2020, we had no idea that the first Covid-19 cases would be detected in the...
Research Uncategorised

The impact of Covid-19 on financial wellbeing

The Money and Pensions Service (MaPS) launched the UK Strategy for Financial Wellbeing in January 2020. The months following the launch brought the coronavirus pandemic, which continues to have a historic impact on the UK economy and people’s personal finances. To help analyse the pandemic’s impact on UK financial wellbeing, MaPS reviewed existing evidence in five separate rapid evidence...
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...
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Coronavirus and personal finances

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