30 Jun 2021 | Posted In Money advice news

A financial wellbeing tool launched by the Money and Pensions Service (MaPs), which merges its legacy brands, has gone live.

The idea for the initiative, MoneyHelper, was first revealed in March after MaPS said it was looking to improve consumer financial wellbeing. MoneyHelper is a single destination tool that provides guidance over the phone, online and face-to-face.

The tool replaces MaPS’ three legacy services: the Money Advice Service, The Pensions Advisory Service and Pension Wise. These services were unified and brought together under a single structure in 2019.

Those wishing to access the services will now be automatically redirected to the MoneyHelper page. Pension Wise will continue as a named service under the MoneyHelper umbrella.

MaPs chief executive Caroline Siarkiewicz said:

“The arrival of MoneyHelper is an exciting next phase in our journey to improve the lives of people across the UK.

“MoneyHelper will be a single destination that allows people to more easily find and access free money and pensions support. Often money matters are complex; and we know that many people looking for help with money or pensions worries do not know where to start.

“MoneyHelper will be uniquely placed to empower people to inform themselves of their choices and improve their financial wellbeing across their lifetimes. It will also better link people with other free support services if that’s what is right for them.”

“The new single-brand will allow MaPS greater efficiencies so our efforts can be better focused on delivering for people across the UK.

“It will also make it easier for our growing network of partners to refer people to our services, information and tools, and help to improve the UK’s financial and overall wellbeing.”