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Gary Millner Director of Operations, pfeg. pfeg’s mission is for all young people to leave full time education with the confidence, skills and the knowledge.

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Presentation on theme: "Gary Millner Director of Operations, pfeg. pfeg’s mission is for all young people to leave full time education with the confidence, skills and the knowledge."— Presentation transcript:

1 Gary Millner Director of Operations, pfeg

2 pfeg’s mission is for all young people to leave full time education with the confidence, skills and the knowledge in financial matters so that they can take part fully in society

3 The wider financial capability agenda  Financial Services Authority’s national strategy on financial capability  HM Treasury consultation paper (January 2007)  HM Treasury/Financial Services Authority joint action plan (July 2008)  Thoresen Review – money guidance

4 The English education system A devolved function Primary schools - age 4-11 years old Secondary and Further education In schools - age 11–19 years old All children attend schools from age 5–16 and follow a national curriculum much of which is compulsory.

5 What pfeg does  Website (One stop shop)  Provides free downloadable resources  Quality Mark  Educational support - a comprehensive service to schools  Training – within schools or with groups of schools  Consultancy – to schools and teachers  Raising the profile of personal finance education  Work with and provide guidance to financial service organisations on  supporting financial education within schools  Volunteers  Resources  Work on a policy level  to influence government and other key stakeholders  to ensure the dissemination of good practice  to introduce and maintain high quality standards

6 Key projects  What Money Means (HSBC)  Learning Money Matters (Financial Services Authority)  My Money (Department of Children Schools and Families)  Use Your Expertise (Institute of Chartered Accountants in England and Wales, Rathbones, Personal Finance Society, Coventry Building Society, Association of Accounting Technicians)

7 What has the impact been within schools now?  over 3,500 secondary schools have requested support through the Learning Money Matters initiative  7338 requests for My Money Week toolkits from 5681 primary schools (representing 33% of primary schools) plus 4513 downloads  3,802 requests for My Money Week toolkits from 2425 secondary schools (over 72% of state and special schools and pupil referral units) plus 3187 downloads  Over 9000 resources distributed to primary schools as part of the What Money Means project  visits to www.pfeg.org have increased fivefold since 2004www.pfeg.org

8 The role of Institutions and regulatory bodies in the financial literacy process  Financial support  Development of resources  Support for specific educational sectors  Provide financial service expertise  Support for schools and teachers  Working with young people  Corporate Social Responsibility  Employee involvement  Supporting the political agenda

9 Managing the conflicts Marketing or Corporate responsibility?  Creating sustainability  Be clear about the aims/benefits  Measuring success Reach Quantitative or Qualitative Impact on educators Impact on young people  Wider benefits Brand Employee involvement

10 Resource development and Quality Marked  Be clear about Branding and Product, both on and in the resource  Linked to the curriculum  Is the learning subject specific  Engaging for learners  Appropriate to the age of the learner  Easily available for the teacher, accurate, adaptable and updateable  Teacher/ Facilitator guide  The resources must be capable of being delivered by a teacher without the support of a financial service organisation employee  Developed in partnership and tested in schools

11 Employee involvement  Check that your employees are suitable to work with young people and you have an ongoing programme to review suitability  Matching schools and volunteers  Train your staff so they understand the aims of your organisation in providing volunteers and the reasons why the school wants them  Be clear about the time and frequency of the commitment they are making (and how much notice you require)  Be clear about the age of the pupils they will be engaging  Be aware of cultural issues  Make sure they are aware that they are there to support the teacher not take the class  Make sure they know their subject and have the right skills

12 Good Practice for Financial institutions  Be distinctive but recognise other initiatives  Show how your programme works with, not against others  Develop resources that are independently Quality Marked  Resources should be linked into the curriculum  Use your employees safely and appropriately  Build sustainability  Be clear how you measure success

13 Gary Millner, Director of Operations pfeg gary.millner@pfeg.orgary.millner@pfeg.org www.pfeg.org Tel: +44 207 330 9477


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