On the go: The Money and Pensions Service will be carrying out a number of events across the UK between now and June, enabling stakeholders to discuss what is needed to boost financial wellbeing in local communities and across the country.
The newly launched government-backed service said the events will help create the national strategy for money and pensions, as well as the organisation’s three-year corporate plan.
Its “listening phase” will influence the service’s strategy to address what it says are the five building blocks to managing money and pensions well: credit use, debt advice, financial education, savings and retirement.
It aims to work with partners to convert £1 of the service’s budget into £10 of customer impact through the wider sector.
As part of the Money and Pensions Service’s business plan, its key performance indicators include delivering 205,000 pension freedoms transactions – a 21 per cent increase from 2018-19 – and delivering in excess of 290,000 personalised pension guidance sessions – a 26 per cent rise from 2018-19.
The new service is the result of the government having amalgamated Pension Wise, the Money Advice Service and The Pensions Advisory Service.
John Govett, chief executive of the Money and Pensions Service, said improving the nation’s financial wellbeing is only possible through collective action.
“Engaging a wide community of organisations and businesses for their views is the first step,” he said.
“It is crucial that anyone who has an interest in improving people’s ability to manage their money and pensions is able to contribute to the conversation about what’s needed.”
