Money and Pensions Service Board appoints new advisory group

A new group of top-level executives from the worlds of finance, consumer rights, research and technology is being convened to ensure the Money and Pensions Service (MaPS) delivers on its mission of everyone making the most of their money and pensions, and so that the UK Strategy for Financial Wellbeing is as successful as possible in hitting its ambitious ten year goals.

Unveiled by the Money and Pensions Service (MaPS) in January, the UK Strategy sets out five “agendas for change” to help transform financial wellbeing across all the nations of the UK, covering credit, debt, savings, pensions and financial education. MaPS is currently developing its own three-year Corporate Strategy.

The work towards these goals is on-going, with additional time being invested in how the immediate and longer-term impacts of the Covid-19 outbreak will also need to be addressed.

The names being announced will form an Advisory Group to the MaPS Board with the purpose of providing long-term support and challenge around both the future MaPS Corporate Strategy and the UK Strategy for Financial Wellbeing.

Group members, meeting for the first time today, are at the forefront of their respective sectors and already committed to the financial wellbeing agenda. The members of the group are:

• John Allan CBE, Chair of Tesco plc, Chair of Barratt Developments plc and 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 and the School for Social Entrepreneurs
• Helen Dean, CEO of NEST Corporation
• Debbie Forster MBE, 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.”