Who we are
The Money and Pensions Service was formally launched on 6 April 2019. The Single Financial Guidance Body (its original legal name) was formed on 1 October 2018. On 1 January 2019, it came into operation and took on the responsibilities of:
- Pension Wise
- The Pensions Advisory Service (TPAS)
- The Money Advice Service (MAS)
delivering pensions, money guidance, debt advice, consumer protection, and strategic leadership. As one organisation we can share evidence and expertise about how best to reach and engage customers, and we can serve them in one place.
The Money and Pensions Service is funded by levies on both the financial services industry and pension schemes. The new body is sponsored by the Department for Work and Pensions, but will also engage with HM Treasury, which is responsible for policy on financial capability and debt advice.