The Money and Pensions Service's vision is:
"Everyone making the most of their money and pensions"
Our vision is a society where everyone makes the most of their money and pensions. The ability to manage money is central to people’s health and wellbeing; it impacts their ability to fulfil their potential, and to care for their families. A population that can manage their money and pensions well is vital for our economy and for society as a whole.
We are an arm's length body, sponsored by the Department for Work and Pensions, with a joint commitment to ensuring that people throughout the UK have guidance and access to the information they need to make effective financial decisions over their lifetime. We deliver across five core functions.
- Pensions guidance - to provide information to the public on matters relating to workplace and personal pensions.
- Money guidance - to provide information designed to enhance people's understanding and knowledge of financial matters and day-to-day money management skills.
- Debt advice - to provide people in England with information and advice on debt.
- Consumer protection - enabling the Money & Pensions service to work with Government and the Financial Conduct Authority (FCA) in protecting consumers.
- Strategy - The Money & 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.
We are funded by levies on both the financial services industry and pension schemes.