Money and Pensions Service
(asked on 16th October 2019) - View Source
Question to the Department for Work and Pensions:
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 for the Money Advice Service, the Pensions Advisory Service and Pension Wise in each of the five years up to and including 2018-19.
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.