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12 June 2012
pfeg welcomes Money Advice Service commitment to financial education in schools
Today pfeg (Personal Finance Education Group) has welcomed the announcement by the Money Advice Service that it will be developing a voluntary “Code of Practice” for providers of financial education to young people. The Money Advice Service also pledged to work with pfeg in order to increase the impact and extend the reach of financial education provision in the UK.
pfeg is the UK’s leading charitable organisation helping schools to plan and teach children and young people how to manage their money now and in the future. Working primarily to educate 4 to 19 year olds, pfeg is delighted to see this new emphasis on the education of school aged children by the Money Advice Service.
Tracey Bleakley, chief executive of pfeg, joined Money Advice Service chairman Gerard Lemos this morning, at an event in the House of Commons where the initiative was announced. She stated ‘The pledge by the Money Advice Service to work with pfeg on nationwide initiatives such as My Money Week is an important step towards ensuring financial education is sustainable and wide reaching in England. Young people must be equipped with the skills and knowledge they will need to be financially included throughout their lives.’
In December 2011 the All Party Parliamentary Group on Financial Education for Young People, for which pfeg provides the secretariat, released a report entitled Financial Education and the Curriculum. One of the key recommendations of the report stated ‘Resources produced by outside organisations and visits of providers to schools should be available and accessible if considered helpful by teachers and quality marked by a trusted body’.
Bleakley went on to say ‘schools have access to a raft of excellent finance education programmes provided by organisations in the finance sector. It is important that this work is coordinated and structured. pfeg introduced the Quality Mark accreditation scheme for financial education resources in 2001, the remit of the scheme could easily be widened to provide accreditation to ensure that programmes operating in schools are of the highest educational worth.’
The full press release from the Money Advice Service is available here: