Maps launches 'Guardians of Financial Wellbeing' Advisory Group

The Money and Pensions Service (Maps) has launched a new advisory group to provide long-term support for its future Corporate Strategy and UK Strategy for Financial Wellbeing.

The group, which holds its first meeting today (27 May), will help to ensure that Maps is able to deliver on the promises and goals outlined in its UK Strategy for Financial Wellbeing in January.

The strategy set out five “agendas for change” to support greater financial wellbeing across the UK, including improving understanding of saving for later life, increasing financial education for young people, and establishing a “nation of savers”.

Whilst work towards these broader goals is still “ongoing”, Maps has now also confirmed that it has taken "additional time" to explore how the immediate and longer-term impacts of the Covid-19 outbreak will need to be addressed.

Members of the group include Nest CEO, Helen Dean, Barclays Bank UK CEO, Matt Hammerstein, Which? CEO, Anabel Hoult, and Aviva UK Savings and Retirement CEO, Lindsey Rix.

Commenting on the launch of the group, Maps chairman, Sir Hector Sants, added: “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, the group also announced the appointment of 11 sector leaders, again to assist with delivery of its ten-year UK strategy.

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