New financial wellbeing service MoneyHelper to launch this summer

A new one-stop-shop for people wanting general money tips or guidance with their pension will be launched this summer.

The new MoneyHelper service will be launched by the Government-backed Money and Pensions Service (MaPS).

Since MaPS was formed in 2018, it has operated its consumer services under three legacy brands – the Money Advice Service (MAS), the Pensions Advisory Service (TPAS) and Pension Wise.

MoneyHelper will bring these brands and services together in one place.

Pension Wise, which provides guidance for people aged 50 and over about their pension options, will continue to exist as a named service under the MoneyHelper umbrella.

But the other two brands will be replaced by MoneyHelper, which will provide money and pensions guidance over the phone, online and face-to-face.

MaPS said following a thorough review of all of the information, tools and content on the legacy services websites, the majority will move to a new home on the MoneyHelper website, making it easier for people to find the information they need.

The launch will happen at a time when many people are still trying to repair their finances following the damage caused by the coronavirus pandemic.

Caroline Siarkiewicz, chief executive of MaPS, 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.”