Question to the Department for Work and Pensions:

To ask His Majesty's Government what plans they have to support older adults to gain the numerical and financial literacy skills to manage their finances ahead of and during retirement.

The government recognises the importance of ensuring that people have the skills, knowledge and support necessary to manage their finances effectively and offers a range of initiatives to help individuals prepare ahead of and during retirement.

Adults in England can access funded Essential Skills provision, including numeracy courses, to help them develop practical maths skills for everyday life, including budgeting and managing household finances.

For those receiving benefits, work coaches can refer customers with numeracy skills gaps to appropriate training. In addition, Midlife MOTs delivered in Jobcentres help people aged over 50 on Universal Credit review their finances, skills and health, and signpost them to suitable support. A digital Midlife MOT is also available to everyone.

The government also supports financial capability through the Money and Pensions Service. Its MoneyHelper service provides free and impartial money and pensions guidance, budgeting tools and calculators, while Pension Wise offers free guidance appointments to people aged 50 and over to help them understand their pension options and make informed decisions about retirement.