The Money Advice Service (MAS) was on the right track and many of its core initiatives will be continued under the government's new money guidance organisation, despite the loss of its consumer-facing mandate, chief executive Caroline Rookes has said.
She said changes made at the organisation following a Treasury-backed independent review last year, meant the body was already on track to fulfil a consumer education and financial capability strategy. The government set out plans to abolish the MAS, alongside its pension equivalent The Pensions Advisory Service (TPAS) and the government's at-retirement guidance service Pension Wise, in a call for input published on 16 March. It said it wants to replace the organisations with two bodies accountable to Parliament - a pensions-focused body and a slimmed-down money guidance service, whic...
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