ao link
0 £0.00
This item was added to your basket
Credit Strategy homepage
Intelligence, Insight and community for responsible professionals in credit

Money and Pensions Service launches strategy to improve financial wellbeing

The Money and Pensions Service has put forward a 10 year plan which hopes to improve millions of lives by setting goals to be achieved across financial education, saving, credit, debt advice and retirement.

The UK Strategy for Financial Wellbeing has five set goals to be achieved by 2030. These include increasing the number of children and young people receiving a meaningful financial education by two million, getting two million more people to save regularly and increasing the number of people getting the debt advice they need by two million.


The strategy also aims to increase the amount of people understanding enough to plan for their future by five million and decreasing the amount of people using a credit card to pay for food or bills by two million.


According to the Money and Pensions Service, people who enjoy good financial wellbeing are more productive at work. Poor financial wellbeing can have knock-on effects on mental health, physical health and relationships.


Caroline Siarkiewicz, acting chief executive of the Money and Pensions Service, said: “Financial wellbeing underpins personal health and happiness, but it doesn’t happen by chance. We are launching a strategy for entire lifetimes.”


Sir Hector Sants, chair of the Money and Pensions Service, added: “The strategy will only be successful for individuals if it is supported by the right products, regulation, service and corporate culture. Achieving the strategy will require the support, and in many cases, action, by both the private and public sector.”


Credit Awareness Week returns during Credit Week 2020, in which Credit Strategy teams up with Experian to gauge the level of public engagement with their credit position. To find out more, visit the Credit Awareness Week website.

Please login to continue reading this article.

Not a member?

Become a member

FREE registration. No credit card required

Register now
  • Stay up-to-date with industry news and appointments
  • Hear about events first
  • Read 1 free Premium article per month

Become a premium member

From as little as £3.48 per week

Become Premium
  • All the perks of a standard member plus:
  • Access to the entire Credit Strategy website
  • 12 months subscription to Credit Strategy Magazine
  • 25% discount to all conferences
  • Exclusive access to Premium Member only roundtables
  • 50% off award entry fees



Language changes needed to support diversity, report finds

Language changes needed to support diversity, report finds

Tesco Bank to close all personal current accounts

Tesco Bank to close all personal current accounts

Phillips & Cohen launches new data management platform

Phillips & Cohen launches new data management platform

Upcoming events

Credit Strategy
LinkedIn page

Member of

Did you find our website useful?

Thank you for your input

Thank you for your feedback – an online news and information service for the UK’s commercial and consumer credit industry. is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group