UK Strategy for Financial Wellbeing

UK Strategy for Financial Wellbeing

What is the strategy?

Over the past 12 months we have been listening to our stakeholders and developing a new UK Strategy for Financial Wellbeing, which is designed to drive change at scale and shift the dials on personal finance. 

The UK Strategy is the ten-year framework which will help achieve the vision of everyone making the most of their money and pensions.  

MaPS will play a key role in achieving this vision, by supporting and working with a wide range of other organisations and by delivering services where appropriate. 

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Key themes within the strategy

The strategy sets out a small number of big themes to engage and motivate large numbers of stakeholders.  It is focused on measured goals which aim to bring benefits for individuals, their communities and wider society. 

How to get involved

The strategy will only achieve its ambitious vision through collaboration and partnership with organisations across government, the third sector, educators, consumers, financial services, employers and others.  If you are part of one of these sectors – or if you care about improving financial wellbeing of individuals, communities, business and the economy – download the strategy and find out how you can get involved. 

Download your copy of the strategy

How the strategy was formed

We held a listening phase for three months, engaging over 1,000 stakeholders in locations around the UK on what they would like to see us focus on. This feedback helped shape the strategy.

Read a summary of the discussions in our Listening Phase Report.

Learn more about the listening phase

Challenge Groups

To meet the goals set out in the UK Strategy for Financial Wellbeing, the Money and Pensions Service is bringing together cross-sector groups of committed specialists to help set milestones for the ten-year journey towards better financial wellbeing. They will work for a six-month period to address the key strategic financial priorities for the UK, come up with some bold proposals and help create plans to see them put into action.

Financial Foundations

Chair: Ndidi Okezie, UK Youth

  • Carol Fitzsimons, Young Enterprise NI
  • Carol Knight, TISA
  • Jonathan Baggaley, PSHE Association
  • Judith Cruickshank, RBS
  • Judy Shaw, National Association of Head Teachers
  • Louise Macdonald OBE, Young Scot
  • Saeed Atcha MBE, Youth Leads UK / Social Mobility Commissioner
  • Sally Hunt, Welsh Government
  • Sharon Davies, Young Enterprise
  • Thishani Nadesan, Cleo AI

Financial Foundations: Financial Services Financial Education

Co-chairs: Eric Leenders, UK Finance and Sarah Porretta, Money and Pensions Service

  • Caroline Edwards, RBS
  • Elisa Moscolin, Santander
  • Gareth McNab, Nationwide
  • Kirstie Mackey, Barclays
  • Mike Oliver, HSBC
  • Rachel Vann, Lloyds Banking Group

Nation of Savers

Chair: Marlene Shiels OBE, Capital Credit Union

  • Brian Morris, Building Societies Association
  • Carmel Morris, Irish League of Credit Unions
  • Chris Smyth, Leeds Credit Union
  • Frances McCann, Scotwest Credit Union
  • Ian Ackerley, NS&I
  • James Harper, Principality BS
  • Marloes Nicolls, Finance Innovation Lab
  • Pardeep Duggal, Lowell
  • Peter Brooks, Barclays
  • Rosa Verity, Monzo
  • Sarah Melvin, BlackRock
  • Tom Riley, Nationwide

Credit Counts: Affordable Credit

Chair: Sacha Romanovitch, Fair4All Finance

  • Check back soon to see the full membership list.

Credit Counts: Use of Credit

Chair: Ben Page, Ipsos MORI

  • Angel Serrano, Barclaycard
  • Bill Hudson, ACE Credit Union
  • Carole King, Provident Financial
  • Douglas White, Carnegie UK Trust
  • James Jones, Experian
  • Katie Walley, Asda
  • Pantelis Solomon, Behavioural Insight Team
  • Peter Tutton, StepChange
  • Philip Sheehy, RBS/Natwest
  • Robert Kelly, ABCUL
  • Scott Kennerley, The Consumer Council
  • Tom Lake, Fair4All Finance

Better Debt Advice

Chair: Sir Hector Sants, Money and Pensions Service

  • The Debt Advice Steering Group will convene a working group to respond to the Better Debt Advice Agenda for Change. Membership for this group will be published shortly.

Future Focus: Decumulation and Later Life

Chair: Professor Dame Carol Black, Centre for Ageing Better

  • Dr Ben Maruthappa, CERA
  • Chris Brooks, Age UK
  • Eddie Lynch, Commissioner for Older People, Northern Ireland
  • George Jones, Welsh Government
  • Peter Glancy, Scottish Widows
  • Rachel Neaman, DigitalAgenda
  • Rob Yuille, Association of British Insurers
  • Stephen Lowe, Just Group plc
  • Tim Henderson, Generational Wealth Management
  • Toni Clark, HMRC

Future Focus: Long-term Savings

Chair: Emma Douglas, Legal & General Investment Management

  • Alistair McQueen, Aviva plc
  • Brian Sloan, Age Scotland
  • Jo Hill, The Pensions Regulator
  • Nigel Peaple, PLSA
  • Sarah Luheshi, Pensions Policy Institute
  • Sheila Mitchell, Public Health England
  • Shri Krishnansen, Smart Pensions
  • Vince Franklin, The Quietroom
  • Zoe Alexander, NEST

Gender and Financial Wellbeing

Chair: Jackie Leiper, Lloyds Banking Group

  • Check back soon to see the full membership list.

Mental Health and Financial Wellbeing

Chair: Paul Farmer, Mind

  • Check back soon to see the full membership list.

Workplace and Financial Wellbeing

Chair: Sacha Romanovitch, Fair4All Finance

  • Check back soon to see the full membership list.

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