UK. Only six out of 10 pensions to appear on new ‘dashboards’
Savers hoping to use new “pension dashboard” services to track their retirement savings will only be able to see six out of 10 accounts due to poor data quality, according to a new analysis.
Dashboard services are expected to be launched in the UK later this year, giving savers the ability to see all their pension pots — and their combined value — in one online hub for the first time.
A new analysis suggests they will offer a disappointing experience for early users, due to providers not getting their data ready on time. “By the time it launches, savers will have waited more than 20 years for a dashboard, so it needs to be fit for purpose from day one,” said Clare Reilly, head of corporate development at PensionBee, an online pension consolidation service and pension provider, which ran the analysis.
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