What will the pensions dashboard do?
The Government says that the pensions dashboard will:
- Give people accurate, easy-to-understand, secure information about their pension.
- Show people clearly how much they have in their various pension pots and what they can expect to have to live on in retirement.
- Allow people to control when and how they check their data and who has access to it.
- Help people to find ‘lost’ pension pots.
The Government says after the first version of the dashboard is released – hopefully in 2019 – further improved versions will follow in the future.
You can contribute to the consultation on the future of the project on the Gov.uk website.
What does the Government say?
Guy Opperman, Minister for Pensions and Financial Inclusion, said: “Pensions dashboards are another major milestone in our radical pension reforms, harnessing innovative technology to benefit savers.
“Plain pensions information at the touch of a screen will ensure better-informed, more engaged savers and help many more people to plan effectively for retirement.
“Bringing pensions information into the digital age has the potential to revolutionise the way we all think about and plan for later life. People, young and old, should have all the help they need to get ready for retirement and maximise their pension incomes and, working with industry, we will ensure they do.”