The Money and Pensions Service

August 27th, 2019

The Money and Pensions Service has been set up by government this autumn.

The Money and Pensions Service brings together three existing bodies of financial guidance : The Money Advice Service (guides, tools, calculators), Pension Wise (pension guidance for over 50’s with personal pensions) and The Pensions Advisory Service (guidance on workplace and personal pensions for everyone); its stated vision is “Everyone making the most of their money and pensions”.

The service is funded by levies on both the financial services industry and pension schemes. It is sponsored by the DWP, operating at arm’s length aiming to provide guidance and access to financial information to the public. Their business plan outlines the belief that delivering pensions, money guidance, debt advice, and consumer protection can best achieved as one organisation.

They have been tasked with taking a leading role in the delivery of pension dashboards which aim to enable individuals to see all of their pension pots in one place online.