TISA urges £25m dormant assets boost for children’s financial education
The Investing and Saving Alliance (TISA) has called on Fair4All Finance to ring-fence at least £5m a year for five years from the financial capability tranche of the dormant assets scheme to fund high-impact financial education for children and young people.
In its response to Fair4All Finance’s consultation on building financial capability, TISA warns that leaving children and young people out of this funding round would be a missed once-in-a-generation opportunity to tackle financial vulnerability at source ahead of financial education entering the curriculum in 2028.
Sophie Legrand-Green, Head of Policy at TISA, said:
“Dormant assets give us a rare chance to transform the financial prospects of a generation, but only if children and young people are at the centre of this funding round. Putting financial education on the school curriculum from 2028 is hugely welcome, yet many of the vital charities and programmes we rely on may not survive the next few years.
A modest £5m a year could sustain frontline providers, equip teachers and scale proven initiatives so young people start building money skills well before the new lessons begin. If we invest now, we can prevent financial problems later instead of managing the fallout for decades.”
TISA’s response stresses that targeted, time-limited dormant assets funding should complement, not duplicate, government activity by preparing schools, teachers and delivery partners for 2028 and beyond. At the same time, resources would support vulnerable young people in the community, including those not in education, employment or training.
TISA’s response also recommends dormant assets be used to support the creation of:
- A ‘Volunteering Hub’ to connect individuals and firms with financial education and inclusion opportunities across the UK.
- A National Money Award that will equip young people (ages 9–30) with essential money management skills using interactive, youth-led learning.
- A Financial Education Academy to provide a central hub of quality-assured resources and training for teachers and practitioners.
ENDS.
Notes to editors
- TISA’s full response to Fair4All Finance’s consultation on building financial capability is available on request.
- Fair4All Finance’s consultation on the use of dormant assets for financial capability and financial inclusion can be found here.
- TISA is a not-for-profit membership organisation committed to improving the financial wellbeing of all UK consumers by working collectively with the financial services industry to deliver solutions and champion innovation, for the benefit of people, our industry, and the nation.
- TISA has approximately 270 member firms involved in the supply and distribution of savings and investment products and associated services. Members include the UK’s major investment managers, retail banks, online platforms, insurance companies, pension providers, distributors, building societies, wealth managers, third party administrators, FinTechs, financial consultants, financial advisers, industry infrastructure providers and stockbrokers.