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To ask the Secretary of State for Work and Pensions, with reference to the Answer of 7 October 2019 to Question 292823, whether the budget for the Money and Pensions Service in 2019-20 is 125.6 million; and what comparative assessment he has made of that budget with the combined budget...
To ask the Secretary of State for Work and Pensions, with reference to the Answer of 7 October 2019 to Question 292823, whether the budget for the Money and Pensions Service in 2019-20 is 125.6 million; and what comparative assessment he has made of that budget with the combined budget...
The 2019-20 budget for the Money and Pensions Service (MaPS) is £125.6m.
Item | Financial Services Levy | General Pensions Levy |
Money Guidance | £25.9m | £0 |
Debt Advice | £55.8m | £0 |
Pension Wise | £31.2m | £0 |
Dashboard | £4.7m | £2.3m |
Pension Guidance | £0 | £5.7m |
Total | 117.6m | £8.0m |
The budgets for the three legacy organisations (the Money Advice Service, the Pensions Advisory Service and Pension Wise) in each of the five years up to and including 2018-19 were previously provided in the Answer on 7 October 2019 to Question 292822.
Since Money and Pensions Service has been constituted with different statutory functions to the legacy organisations no direct comparison can be made between the budget for Money and Pensions Service and those for the previous services.
To ask the Secretary of State for Work and Pensions, how much funding was allocated to (a) the Money Advice Service, (b) the Pensions Advisory Service and (c) Pension Wise in each of the five years up to and including 2018.
To ask the Secretary of State for Work and Pensions, how much funding was allocated to (a) the Money Advice Service, (b) the Pensions Advisory Service and (c) Pension Wise in each of the five years up to and including 2018.
The Money Advice Service was previously an HMT sponsored levy funded armâs length body. When this and the other legacy bodies were merged to create the Money and Pensions Service (formerly Single Financial Guidance Body) historic budgets were transferred to the new Government sponsors - Department for Work and Pensions - as part of a Machinery of Government change. The historic amounts transferred to DWP were:
2013-14 | 2014-15 | 2015-16 | 2016-17 | 2017-18 | 2018-19 |
£79.8m | £80.5m | £79.4m | £76.3m | £79.6m | £82.1m |
Funding for the Pension Advisory Service is contained in the Supplementary Estimates for each year hosted on the link below. The data can be found in Part III: Note E of the Department for Work and Pensions section. The Pension Advisory Service is Levy funded.
https://www.gov.uk/government/collections/hmt-supplementary-estimates
Pension Wise costs for the Period are:
2013-14 | 2014-15 | 2015-16 | 2016-17 | 2017-18 | 2018-19 |
N/A | N/A* | £31.7m** | £24.4m | £18.1m | £16.9m*** |
*Pension Wise was in set up phase in 14/15
** Pension Wise was in HMT in 15/16
*** Includes Pension Wise expenditure in DWP and Single Finance Guidance Body (now Money & Pensions Service)
Pension Wise is levy funded.
To ask the Secretary of State for Work and Pensions, how much funding was provided to (a) the Money Advice Service, (b) the Pensions Advisory Service and (c) Pension Wise in each of the five years up to and including 2018.
To ask the Secretary of State for Work and Pensions, how much funding was provided to (a) the Money Advice Service, (b) the Pensions Advisory Service and (c) Pension Wise in each of the five years up to and including 2018.
It has not proved possible to respond to the hon. Member in the time available before Prorogation.
This briefing paper provides information on past consultations on proposals to introduce new debt measures in England and Wales.
This briefing paper provides information on past consultations on proposals to introduce new debt measures in England and Wales.
Letter dated 04/06/2019 from Baroness Buscombe to Lord McKenzie of Luton regarding issues raised during the debate on the Financial Guidance and Claims Act 2018 (Naming and Consequential Amendments) Regulations 2019: scheme transfers, appointment of directors, cold calling, pensions guidance, delegation of functions to delivery partner organisations. 3p.
Letter dated 04/06/2019 from Baroness Buscombe to Lord McKenzie of Luton regarding issues raised during the debate on the Financial Guidance and Claims Act 2018 (Naming and Consequential Amendments) Regulations 2019: scheme transfers, appointment of directors, cold calling, pensions guidance, delegation of functions to delivery partner organisations. 3p.
My Lords, this statutory instrument is about a name change, which of course I support. I am glad to hear from the noble Lord, Lord Stevenson, of the distinguished new chair of the
service, and the management team. I also commend the DWP—a role model for the Treasury on this,...
My Lords, this statutory instrument is about a name change, which of course I support. I am glad to hear from the noble Lord, Lord Stevenson, of the distinguished new chair of the
service, and the management team. I also commend the DWP—a role model for the Treasury on this,...
My Lords, in moving the Motion standing in my name on the Order Paper, I stress that it is an attempt to bring forward an opportunity for those who are interested in this topic to debate it at length. In the absence of any other opportunities, and given the fact...
My Lords, in moving the Motion standing in my name on the Order Paper, I stress that it is an attempt to bring forward an opportunity for those who are interested in this topic to debate it at length. In the absence of any other opportunities, and given the fact...
My Lords, I did not participate in this Bill but I share the sentiments expressed so far about the need for financial guidance, advice and education to help people come to better decisions. I support the remarks of the noble Baroness, Lady Neville-Rolfe, about the importance of including this as...
My Lords, I did not participate in this Bill but I share the sentiments expressed so far about the need for financial guidance, advice and education to help people come to better decisions. I support the remarks of the noble Baroness, Lady Neville-Rolfe, about the importance of including this as...
My Lords, I want to support the main thrust of the speech from the noble Lord, Lord Stevenson, about debt. Julia Unwin, who was chief executive of the Joseph Rowntree Foundation, did a big research project on why people were going to Wonga. They went to Wonga because it asked...
My Lords, I want to support the main thrust of the speech from the noble Lord, Lord Stevenson, about debt. Julia Unwin, who was chief executive of the Joseph Rowntree Foundation, did a big research project on why people were going to Wonga. They went to Wonga because it asked...
My Lords, with this take note Motion my noble friend Lord Stevenson has made an important intervention and it is a timely reminder that we should be making progress on matters covered by the Act. Indeed, he has covered a lot of ground, so I can be brief—or briefish.
We are...
My Lords, with this take note Motion my noble friend Lord Stevenson has made an important intervention and it is a timely reminder that we should be making progress on matters covered by the Act. Indeed, he has covered a lot of ground, so I can be brief—or briefish.
We are...
My Lords, I very much welcome this debate. It has been very good, albeit short, and has covered a number of important issues. It is really timely to reflect on where we have come since the passing of the Financial Guidance and Claims Act. My memory has constantly been nudged...
My Lords, I very much welcome this debate. It has been very good, albeit short, and has covered a number of important issues. It is really timely to reflect on where we have come since the passing of the Financial Guidance and Claims Act. My memory has constantly been nudged...
Before my noble friend moves on, would it be possible to look again at what is in the national curriculum that helps on finance, debt, pensions and the associated things that we are talking about? It is great news that the new body will be looking at a strategy but...
Before my noble friend moves on, would it be possible to look again at what is in the national curriculum that helps on finance, debt, pensions and the associated things that we are talking about? It is great news that the new body will be looking at a strategy but...
I thank my noble friend for her point, which is so well made. One reason I am so pleased to have this debate is that it helps, in a sense, to put more pressure on those taking this forward to look a little harder and further at what more we...
I thank my noble friend for her point, which is so well made. One reason I am so pleased to have this debate is that it helps, in a sense, to put more pressure on those taking this forward to look a little harder and further at what more we...
I know that the Minister will not want to go into areas covered by other departments, but will she at least commit to take seriously the question of the curriculum? Governments of all parties in the past have done many good things—a noble Lord formerly in education was here at...
I know that the Minister will not want to go into areas covered by other departments, but will she at least commit to take seriously the question of the curriculum? Governments of all parties in the past have done many good things—a noble Lord formerly in education was here at...
The issue seems not so much to be what is covered by the national curriculum as the extent to which schools have to comply with it. That is the challenge. As I understand it, free schools and others do not have to. That is the stumbling block that we hit...
The issue seems not so much to be what is covered by the national curriculum as the extent to which schools have to comply with it. That is the challenge. As I understand it, free schools and others do not have to. That is the stumbling block that we hit...
I thank the most reverend Primate the Archbishop of York and the noble Lord, Lord McKenzie, for giving me a further springboard to have discussions on this with my ministerial colleagues in the Department for Education. It is something that we worked on during the passage of the Bill. We...
I thank the most reverend Primate the Archbishop of York and the noble Lord, Lord McKenzie, for giving me a further springboard to have discussions on this with my ministerial colleagues in the Department for Education. It is something that we worked on during the passage of the Bill. We...
My Lords, I thank all those who have contributed to this short debate. It has served its purpose and achieved what we wanted, which was a chance to reflect on the progress made since the passing of the Bill and an update on the heartening and encouraging work now going...
My Lords, I thank all those who have contributed to this short debate. It has served its purpose and achieved what we wanted, which was a chance to reflect on the progress made since the passing of the Bill and an update on the heartening and encouraging work now going...