Financial inclusion
Headlines
Below are some 2010 to 2011 headlines we are proud of:
- Putting £34.50 a week in the pockets of over 5,000 people under the FIS contract - this totals £9.1million of benefit for local people who were entitled but not claiming their full welfare benefit and Tax Credits entitlement.
- Securing £1.6million (22 per cent) of the up-take for families with children.
- Making sure £1million (10 per cent) of the benefits went directly to older people through claims for the correct amounts of Retirement Pension, Pension Credit and Attendance Allowance.
- Our customer service outreach visiting team who saw 323 people in their homes and applied for over £700,000 in previously unclaimed benefits - an average of £41.92 a week per head.
- A total take up of £9million in previously unclaimed benefits across the city and at least £1million of this went specifically to families with young children.
Our strategy
In 2006, Plymouth City Council and its partners worked together to develop the only multi-agency Income Maximisation Strategy in England. The Strategy brought together advice agencies across all sectors to deliver the best possible services in Plymouth and was recognised in 2007 by the Institute of Revenues, Ratings and Valuations annual awards as best practice in the country. The Income Maximisation Strategy successfully coordinated services that dealt with over £190 million of problem debt and raised £13 million of previously unclaimed welfare benefits and tax credits.
However, the economic downturn presents us with new challenges in supporting people to cope with financial pressures. Unemployment is rising, house prices are falling and more people are experiencing fuel poverty. There is a lack of affordable credit and problem debt and house repossessions are increasing. There are also challenges in achieving national return to work and child poverty objectives. These changes are placing increased pressures on already stretched advice services.
In response to these issues, our Financial Inclusion Strategy 2009 to 2012 has been developed by Plymouth City Council in partnership with other organisations to improve financial inclusion. Financial inclusion is the process which ensures a person's in-coming money is maximised, their out-goings are controlled and they can exercise informed choices through access to basic financial services.
In January 2009, a consultation document was distributed by partners across all sectors. It invited people to identify financial inclusion work that will enable Plymouth City Council and its partners to work together to co-ordinate and monitor progress and achieve the best possible results for the people of Plymouth. This consultation, together with an analysis of current issues has been used to inform the Financial Inclusion Strategy's key aims, which are:
- Maximise take up of welfare benefits and tax credits with an emphasis on in-work benefits
- Reduce problem debt
- Provide accessible and high quality financial inclusion services
- Reduce fuel poverty
- Maximise opportunities for delivering financial inclusion through partnership working.
To achieve our aims, we will undertake a series of actions including:
- Commissioning face to face debt and money advice
- Strengthening credit union provision as an alternative to doorstep lending
- Targeted advice to remove barriers to work for example tax credit and child care for parents
- Awareness-raising for advice agencies on fuel poverty
- Production of fact sheets reflecting economic climate
- Welfare benefits and tax credit take - up initiatives.
By doing this, our financial inclusion work will contribute to narrowing the gap between our most and least deprived neighbourhoods and in making Plymouth one of Europe's finest, most vibrant waterfront cities where an outstanding quality of life is enjoyed by everyone through people becoming healthier, wealthier, safer and wiser.
Financial Inclusion Strategy 2009 to 2012 [139.7KB]
Financial Inclusion Strategy Review [287KB]
Financial Inclusion Strategy Refresh [179KB]
Income maximisation strategy 2006 to 2009 [190KB]
Equality Impact Assessment [90.7KB]
Reports
Every quarter (three months) we monitor how well we are doing and highlight our key achievements by reporting:
- Amount of benefit take up
- Amount of priority and non-priority debt that has been dealt with
- Credit Union news
- Outreach achievements
To find out more please take a look at the reports below.
FIS Highlights April 2010 to March 2011 [96KB]
FIS Highlights April to June 2010 [94KB]
FIS Highlights July to September 2010 [94KB]
FIS Highlights October to December 2010 [99KB]