Debt Advice Commissioning - SFGB Update

On 1st January 2019, the Single Financial Guidance Body (SFGB) took over the Money Advice Service’s responsibility for funding debt advice in England.

On 29th January, the SFGB Board met to agree a budget (subject to DWP and HMT approval) that will enable the continuation of debt advice funding and increase the number of people who can access free debt advice. At the same meeting, the Board took the decision to stop the recent competitive tendering process for face-to-face debt advice in London and the North West.

Those organisations involved have been written to informing them that current providers will have their funding extended for 12 months through to March 2020. This 12-month extension will also be applied to all other debt advice agreements.

Caroline Siarkiewicz, Partnerships and Commissioning Director at the SFGB, commented:

“As the SFGB gets to work helping people make the most of their money and pensions, the Board is committed to maintaining continuity and protecting frontline services. The decision to stop the procurement process will enable the SFGB, together with our stakeholders, to focus on how we can achieve lasting change to both the sector and for people in the UK.

“As part of this, we will shortly be launching a series of ‘listening events’ to be held throughout the UK to help us develop a new, ambitious, strategy for the UK. Collectively, with key partners both inside and outside the sector, we are committed to delivering greater impact for our joint customers.

“The Board would like to extend its thanks to all those who invested time in the process, and we look forward to further collaboration over this next year and beyond.”

-ENDS-