UK. Pensions dashboards to enable more informed retirement planning
Proposals to give millions of people their pension facts and figures at their fingertips have been unveiled by the government.
Pioneering proposals to give millions of people their pension facts and figures at their fingertips have been unveiled by the government today (3 December).
New free, user-friendly ‘pensions dashboards’ would allow people to access their information from most pension schemes in one place online for the first time.
Pensions dashboards – an idea welcomed by consumer groups and pension providers – would:
- give people accurate, easy to understand, secure information
- show people clearly how much they have in their pension pots and what they can expect to have to live on in retirement
- put people in control of when and how they check their data and who has access to it
- help people to find ‘lost’ pension pots
It is envisaged the first pensions dashboard will be established in 2019, with multiple dashboards to be introduced in the following years subject to the necessary consumer protection being in place.
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