In September 2020, the capital markets union action plan, where the Commission exhilarated that sound financial literacy was at the heart of people’s financial well-being. In addition, in January 2022, the Commission and the OECD jointly developed an economic competence framework for adults. They are now working on promoting the framework and helping Member States, and stakeholders use the framework in concrete policies and initiatives through targeted workshops.

The Commission also works with national administrations to assess levels of financial literacy and create dedicated programs to improve financial education.