The government has recently confirmed that the initiative to introduce a pensions dashboard will go ahead.
Those saving for retirement will be able to use the pensions dashboard to view information from multiple pensions in one place. It has been stated that the dashboard will ‘open up pensions to millions’, and ‘provide an easy-to-access online view of a saver’s pensions’.
The DWP will bring forward legislation that will require pension scheme providers to make consumers’ data available to them through their chosen dashboard. The dashboard will also include State pension information.
Quote from Nigel Holland:
“It is good that we will finally have a place to monitor all our pensions at the same time. For people with multiple pensions, this will make it much easier to see how much money they have saved in total.”