Money and Pensions Service

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Money and Pensions Service
PredecessorMoney Advice Service, Pensions Advisory Service, Pension Wise
Founded2019
Location
  • London
Area served
United Kingdom
ServicesDebt advice and support
Websitewww.moneyandpensionsservice.org.uk

The Money and Pensions Service (sometimes stylized as Money & Pensions Service) is an organisation whose statutory objective is to develop and co-ordinate a national strategy to improve people’s financial capabilities.[1][2] The service provides free money guidance and debt advice online and by telephone.

The organisation was set up by the UK Government and is paid for by a statutory levy on the financial services industry.[3] It is an arm’s-length body of the Department for Work and Pensions.[4][5]

The service's chair is Hector Sants.[6] As of 2019 the acting CEO is Caroline Siarkiewicz.[7]

History[edit]

The service was launched in January 2019, combining the Money Advice Service, The Pensions Advisory Service and Pension Wise to form a single guidance body.[8] The decision to merge the organisations into one body was originally announced in March 2016 by HM Treasury and confirmed in the Queen’s Speech of June 2017.[9][10]

References[edit]

  1. ^ Glen, John (19 June 2019). Breathing Space Scheme (Speech). House of Commons: They Work For You. Retrieved 21 June 2019.
  2. ^ "New five-year strategy to greater target those most in need of debt advice". Money Advice Service.
  3. ^ >Addison, Rachel (10 April 2019). "Industry to pay £36.9m for pension guidance". FT Adviser. Retrieved 21 June 2019.
  4. ^ "Who we are". Money and Pensions Service.
  5. ^ Simon, Emma (4 March 2019). "SFGB rebranded 'Money and Pensions Service'". Corporate Adviser. Retrieved 3 July 2019.
  6. ^ Hosking, Patrick (20 May 2019). "Hector Sants on mission to cure financial misery". The Times. Retrieved 29 May 2019.
  7. ^ Roach, Holly (11 June 2019). "Money and Pensions Service CEO John Govett resigns". Professional Pensions. Retrieved 21 June 2019.
  8. ^ "Home". The Money and Pensions Service.
  9. ^ Milligan, Brian (16 March 2016). "Budget 2016: Money Advice Service to be abolished". BBC News. Retrieved 29 May 2019.
  10. ^ Murray-West, Rosie (21 June 2017). "New pensions minister to merge guidance bodies". FT Adviser. Retrieved 29 May 2019.

External links[edit]