Caroline Siarkiewicz will step down from her role as chief executive of the Money and Pensions Service (MAPS) in January 2024.

She confirmed to the organisation's Board yesterday that she will not be taking up a second term.  

Ms Siarkiewicz was appointed chief executive off the the government-backed consumer financial guidance body in January 2020 after being acting chief since June 2019.

She led MAPS through the early integration of the three separate organisations Money Advice Service (MAS), The Pensions Advisory Service (TPAS) and Pension Wise. 

While she has been in charge, MAPS launched its MoneyHelper consumer brand and published the first ever UK strategy for financial wellbeing.

Before becoming chief executive she was partnerships and commissioning director at MAPS. Prior to that, she was head of UK debt advice at one of MAPS forerunners, the Money Advice Service and chief executive of the Institute of Money Advisers.

 She said: “My time as chief executive of the Money and Pensions Service has been truly inspiring and very rewarding. I am incredibly proud of my colleagues and the passion and enthusiasm they show every day in the work we have delivered.”

Sara Weller, chair of MAPS, said: “Caroline has been a big part of MAPS’ story since the beginning but MAPS is still a young organisation with a huge amount of potential, and we are now moving into the next phase building on all the hard work Caroline and her team have done over the past four years.” 

The search for a successor will start shortly and will be led by Sara Weller. The appointment will be subject to the approval of the Secretary of State for Work and Pensions. 

Sara Weller, a former joint MD of Sainsbury’s, became MAPS chair in March.

MAPS provides free personal finance and guidance across the UK, as well as debt advice in England. The government says MAPs supports the policy delivery of DWP and the Treasury.