A group of top-level executives from across the finance and tech industries have been brought together to ensure the Money and Pensions Service (Maps) delivers on its strategy to help savers with their financial wellbeing.
The advisory group has been set up today (May 27) with the purpose of providing long-term support and challenge around both the future Maps’ corporate strategy and the wider UK strategy for financial wellbeing.
It consists of 12 chief executives from firms such as Aviva, Nest and Barclays.
The members of the group are:
- John Allan, president of the CBI (joining in September)
- Katie Alpin, interim chief executive of the Money and Mental Health Policy Institute
- Richard Collier-Keywood, chair of Fair4All Finance
- Helen Dean, CEO of NEST Corporation
- Debbie Forster, CEO of Tech Talent Charter
- Professor David Halpern, Chief executive of The Behavioural Insights Team
- Matt Hammerstein, CEO of Barclays Bank UK
- Anabel Hoult, CEO of Which?
- Vim Maru, group director for retail, Lloyds Banking Group
- Helen Milner OBE, group chief executive, Good Things Foundation
- Mike Regnier, CEO of Yorkshire Building Society
- Lindsey Rix, CEO for UK savings and retirement, Aviva
Sir Hector Sants, chairman of Maps, said: “The current crisis has highlighted the precarious nature of many people’s financial resilience and through that financial wellbeing.
“There is virtually no-one in the country who hasn’t felt some economic impact as a result of the outbreak. Improving financial wellbeing – to help people feel more empowered and in control – would make a big difference.
“We have already been joined by many excellent collaborators from a wide range of sectors and I’m delighted at the list of leaders in their fields who have now agreed to join the new advisory group.
"The board of Maps looks forward to working with them to ensure the UK strategy for financial wellbeing delivers on its great potential in the years ahead.”
Earlier this year (January 21), Maps launched its UK strategy for financial wellbeing, which set out goals to be achieved by 2030 across financial education, saving, credit, debt advice and retirement.
To encourage more people to save in the long-term Maps has proposed introducing guidance packages which would work alongside the proposed pension dashboards to help people take action when needed.
These packages would be focused on specific life events such as parental leave and divorce.
The service is also responsible for building the first pension dashboard and ensuring that an industry delivery group, brought together by the guidance body, will set out a timetable for other fully operational dashboards, as well as setting standards and ensuring security across the portals.
Maps, which was made up of the merger of Pension Wise, the Money Advice Service and The Pension Advisory Service, officially launched in April 2019 and is a joined-up service for everything guidance, from debt help to money and pensions guidance.
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