The Money and Pensions Service (MaPS) strategy document sets out the views of the MaPS Board about what it will take to significantly improve financial wellbeing in the UK and includes five ambitious changes to help people make the most of their money and pensions.
Financial wellbeing is good for individuals, communities, business and the economy. But poor financial wellbeing, affecting tens of millions of people, is holding the UK back. 11.5m people have less than £100 in savings to fall back on. 9m people often borrow to buy food or pay for bills. 22m people say they don’t know enough to plan for their retirement. And 5.3m children do not get a meaningful financial education.
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