Podcat #8: MaPS - What is it good for?

written by Tom McPhail

Tuesday, 18 January 2022

Free financial guidance, that's what...

This week on the podcat, Tom talks to Sarah Porretta, strategy and insights director at the Money and Pensions Service (MaPS).

MaPS has been on quite a journey from its origins as the Money Advice Service, The Pensions Advisory Service and Pension Wise. Sarah talks about this, and how the organisation interacts with the wider financial services industry.

She discusses Covid's impact on debt advice and on people's financial lives more generally, as well as the integration of Pension Wise and the stronger nudge to pension guidance (as seen in the news this week).

Tom and Sarah go on to chat through financial wellbeing as a health issue, and the connection between health and money.

Sarah talks about some of the untapped conversations on getting financial help to more people, such as the longer term impact on retirement where people are looking to reduce their hours or move to a shorter work week.

She also talks about how she teaches financial education to her own kids, and the importance of moving the dial on financial education.

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And if you'd like to read Tom's recent review of MaPS for the Department of Work & Pensions, you can do so here