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Financial Education

Financial Education. Pamela Kellock-Shetty Policy Development Team Leader. Financial Education.

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Financial Education

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  1. Financial Education Pamela Kellock-Shetty Policy Development Team Leader

  2. Financial Education • The introduction of mandatory advice and targeted Financial Education, is a key part of the ‘Financial Health Service’ seeking to build financial capability and prevent individuals from repeated financial difficulties. • Money Advice Scotland has developed the financial education module for the purposes of the regulations. • It will be available as an e- learning module and will be hosted on the Money Advice Scotland portal and AiB’s Financial Health Service website. • Where a debtor does not have access to online services, the trustee must inform AiB, who will print a hard copy of the module and forward to the debtor.

  3. Financial Education • BADA(S) sets out specific criteria determining those who is required to complete financial education and those who are exempt. • Regulations will be laid in late summer and will: • Stipulate that the programme of financial education is the financial capability module developed by Money Advice Scotland. • Require the debtor to complete the financial education module prior to receiving their discharge. • Define the role of the trustee and the process to undertake and complete the financial education module. • Define the information to be included and the process by which a trustee notifies the debtor that they are required to undertake a course of financial education.

  4. THANK YOU Pamela Kellock-Shetty, Policy Development Team Leader 0300 200 2694, pamela.kellock-shetty@aib.gsi.gov.uk 1 Pennyburn Road, Kilwinning, Ayrshire, KA13 6SA T 0300 200 2600 F 0300 200 2601 W www.aib.gov.uk

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