Question to the Ministry of Defence:

To ask the Secretary of State for Defence, whether he plans require the Armed Forces to offer training on financial resilience, including (a) planning for retirement and (b) building savings; and if he will make a statement.

The Ministry of Defence is working to raise financial awareness among Service personnel. We provide our personnel with briefings from the Royal British Legion MoneyForce initiative which aim to assist all Service personnel, their partners, families and dependants, to be better equipped to manage their money and financial affairs.

All three Services provide links on their welfare sites to several financial advisory sites including MoneyForce, Joining Forces Credit Union (JFCU) and the Services Insurance and Investment Advisory Panel. The Ministry of Defence makes it possible for Service personnel who are members of JFCU to save with a contribution directly from their salary into their savings account.

In addition, the British Forces Broadcasting Service have run financial awareness campaigns with the Money and Pensions Service and with JFCU to highlight everything from savings/loans to pensions.