A new survey by the government-backed Money and Pensions Service (MAPs) suggests that more people are saving despite the cost of living crisis.

Wealth manager and platform Quilter says the ‘stronger nudge’ towards pensions guidance, introduced a year ago, has so far produced “lacklustre” results and needs to be beefed up.

Caroline Siarkiewicz will step down from her role as chief executive of the Money and Pensions Service (MAPS) in January 2024.

Sara Weller, a former joint MD of Sainsbury’s, has been appointed the new chair of the Money and Pensions Service, the government-funded consumer personal finance guidance service.