Government affirms commitment to pension dashboards

The UK government has reinforced its commitment to pension dashboards which allow users to see all their pensions information in one secure place.

In a written statement to parliament, Emma Reynolds, the minister for pensions, said that Pensions Dashboard Programme (PDP) had made good progress.

She added that the state-provided MoneyHelper pensions dashboard will be made available to the public before commercial dashboards become operational. This will ensure that a dashboard is made available at the earliest possible opportunity.

By prioritising the launch of the MoneyHelper dashboard, Reynolds said that people working on the project will be able to gain a better insight into customer behaviour.

Additionally, she explained that they will be able to ensure that security and consumer protection measures are in place before enabling the connection of commercial dashboards.

Connection with the programme’s volunteer participants has already started and the PDP is currently working towards wider industry connection under the timetable in guidance getting underway next year.

“Pensions dashboards will transform how people view their retirement savings, and will help pension providers and schemes’ engagement with better informed customers and members,” said Oliver Morley, chief executive of the money and pensions service. “Dashboards are a truly collaborative effort between government, industry and regulators.

“We are working hard together to create a service that puts savers in control of their pensions.”