The new Money and Pensions Service (MaPS)

At the beginning of 2019, three existing providers of government-sponsored financial guidance merged to form the single financial guidance body which has now been named the Money and Pensions Service (MaPS). You may already be familiar with the likes of the Money Advice Service, The Pensions Advisory Service and Pension Wise who already deliver debt advice, money guidance and pensions information online.

Having MaPS is great news as it provides you with a one-stop shop for financial guidance. You’ll have access to various topics such as workplace pensions, day-to-day money management and overall financial education. Best of all, the information will be free and impartial for anyone that needs it.

The new body will work alongside the government and the Financial Conduct Authority (FCA) to ensure the information is regulated to protect you. MaPS’ main aims are:

• to develop people’s financial capability
• to improve debt management among UK citizens
• to provide financial education to children and young people

When you are making important financial decisions, it’s essential that you have easy access to the information before making an informed decision. If you need some extra help, you can find an IFA at register.fca.org.uk or you can visit www.moneyandpensionsservice.org.uk for more information.