The Money and Pensions Service (sometimes stylised as Money & Pensions Service or MaPS) is an 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 , type = Department , seal = , logo = Department for Work and Pensions logo.svg , logo_width = 166px , formed = , preceding1 = , jurisdiction = Government of the United Kingdom , headquarters = Caxton House7th Floor6–12 Tothill Stree ...

. 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 The Pensions Advisory Service (TPAS) was a non-departmental public body and independent non-profit company limited by guarantee in the United Kingdom, which provided free information, advice and guidance on state, company and individual pension sch ...

and

Pension Wise Pension Wise is a free and impartial pension advice service set up by the government of the United Kingdom in 2015. It offers guidance for people on the pension changes introduced in the 2014 United Kingdom budget. Under these changes those w ...

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), occasionally referred to as the Exchequer, or more informally the Treasury, is a department of His Majesty's Government responsible for developing and executing the government's public finance policy and ec ...

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 a representative thereof, reads a prepared speech to members of the nation's legislature when a Legislative session, session is ...

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 Personal finance education HM Treasury Private companies limited by guarantee of the United Kingdom Government agencies established in 2019 Advice organizations