“HMT should challenge the industry to make a pensions dashboard available to consumers by 2019, bringing together industry and consumer representatives to help them set direction and drive progress.” HMT and FCA, 2016.
Pensions provision is changing and individuals must increasingly take more responsibility for planning their financial well-being in retirement. Engagement with financial services is increasingly digital in nature with more services being accessed online, so delivering a pensions dashboard with the interest of the consumer first and foremost represents an opportunity to transform the relationships people have with their pensions savings.
This Alpha project followed an earlier discovery project, the Pension Finder Tool. Fourteen organisations representing the views of the consumer, the financial services industry and the government, took part and concentrated on aggregating a comprehensive picture of people’s accumulated pension savings including defined-benefit pension and defined-contribution pensions alongside the State Pension, looking at consumer journeys, consumer research, architecture and data standards, and policy and governance.
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