PensionsJun 21 2019

What industry wants from the new guidance body

Search sponsored by
What industry wants from the new guidance body
ByAmy Austin

Another issue with this proposal was that it would not capture the self-employed.

Maps asked the respondents how it could balance resources between preventative work (for example pensions guidance, financial education) and crisis support (such as debt advice) and whether one should be prioritised over the over.

Some said financial education was important to prevent people from getting into debt.

However, others argued that debt crisis cannot always be predicted or prevented, for example for individuals going through a bereavement or who have mental health issues.

It was suggested that Maps should spread its reach as far as possible and try and help everyone. 

One reason given for this was that individuals do not always know they need guidance until it is too late. For example, individuals may not realise they have not saved enough into their pension until they reach retirement age.

The London listening event was the penultimate in a series of 10 roadshows where advisers and other industry experts had their say on Maps’ future strategy.

The series of events, which will run until the end of June, saw Maps visit Belfast, Birmingham, Bristol, Cardiff, Dartford, Edinburgh, Leeds, London, Manchester and Peterborough.

Last week, June 11, it was announced that John Govett had resigned as chief executive of Maps, just two months after it was officially launched, due to "an impending family relocation".

Caroline Siarkiewicz, currently partnerships and commissioning director at Maps, was appointed as interim chief executive, effective from June 14, while the body conducts a search process for a permanent appointment.

The new Maps website will go live towards the end of 2019, and will use the findings from the roadshows to enhance its offering. 

Until then, guidance will continue to be available through the websites of the previous component parts of the Money and Pensions Service – Pension Wise, the Money Advice Service and The Pensions Advisory Service.

What do you think about the issues raised by this story? Email us on to let us know