9 Mar 2009

NSAFS promotes personal finance education through Money Week

The National Skills Academy for Financial Services is holding a programme of events this week in conjunction with the Financial Services Authority to promote financial education for further education students and staff.

Money Week, part of the Financial Services Authority’s National Strategy for Financial Capability and its ‘Money for LiFE’ project, is being held by the Skills Academy’s network of providers in Yorkshire & Humber, South West and London regions. Activities can be attended by all students and staff from the Academy’s provider network of colleges, not just those taking financial courses. The event will reach over 12,000 learners through 30 colleges in the Academy network. The Academy network is also linking to other colleges within those regions to enable as large a number of learners to participate.

Events taking place include exhibitions and talks for students and staff with expert advice from Independent Financial Advisers (IFAs), banks and pension administrators. Further activities include tasks to find out whether people are “spenders” or “savers”, comparing the cost of branded shopping against own-label products and various other competitions designed to be both educational and fun. There will also be the opportunity to attend money-saving masterclasses.

Sylvia Perrins, National Director, said: “Personal finance is a life skill for us all and shouldn’t be something that is treated as an optional extra in people’s education.

“To ensure the British workforce is able to remain at the fore of the financial industry it is essential for people to understand the basics of personal finance education, and against the backdrop of the current economic climate, never has this been more important.”

Chris Pond, FSA Director of Financial Capability said: “Improving people’s ability to make financial decisions is in everybody’s interests; if people know what they want and how to get it, they are more likely to trust the providers of financial services and be confident to buy financial products – and less likely to make financial decisions that are not right for them. Money Week is a great opportunity for colleges, students and staff to get involved and help us raise the level of financial capability in the UK.”

The National Skills Academy for Financial Services offers national centres of excellence in education, skills training and development, working in partnership with government and training providers to develop a workforce with the knowledge and skills they need to match the best in the world.

Notes to Editors

1. The National Skills Academy for Financial Services is a not for profit company limited by guarantee which was created with the express purpose of delivering world-class education and training aligned with employer needs in the financial services industry to people of all age groups and learning backgrounds, helping them to prepare for and develop financial services careers. For more about the National Skills Academy for Financial Services or to get involved with us, email info@nsafs.co.uk.

1. The National Skills Academy for Financial Services Money Week is part of the Financial Services Authority’s National Strategy for Financial Capability, and its ‘Money for LiFE’ project. Through the strategy, the FSA has set up several UK-wide projects. These help school children, students in further and higher education, people not in education, employment or training, new parents and employees to improve their ability to manage money, keep track of finances, plan ahead, make informed decisions about financial products and stay up to date with financial matters. For more information visit www.fsa.gov.uk/financial_capability/index.htmlhttp://www.fsa.gov.uk/financial_capability/index.html.

1. Sylvia Perrins is the National Director of the National Skills Academy for Financial Services. Sylvia took up her post in January 2007. Prior to her appointment, she was Director of Business Development and Planning at Westminster Kingsway College of Further Education in London, having also held the position of Director of Strategy & Innovation at the same institution from 2001 to 2003. From 1997 to 2001 she was Assistant Principal Finance and Information Systems at Orpington College of FE in Kent. She started her working life as a financial and business analyst, being employed at British Petroleum plc for seven years, followed by a period of self employment. She holds an MBA, a Post Graduate Certificate in Education and a BSc (Econ) from the London School of Economics and is an Associate Chartered Management Accountant (ACMA). Sylvia is a Non Executive Director of the Queen Elizabeth Trust.

   For further information please contact: Roland Cross/Sarah Evans-Toyne/James Bishop/Tania Vie Riba (Broadgate) 020
   7726 6111 or email nsafs@bgate.co.uk.

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