Government confirms pensions dashboard programme will go ahead, with launch scheduled for 2019
The pensions dashboard will allow users to view and manage all their pensions – including the state pension – in one place Credit: Pensions Dashboard Prototype Project
The government has confirmed that the pensions dashboard project will go ahead, with the Department for Work and Pensions leading the implementation.
Writing in The Times, pensions and financial inclusions minister Guy Opperman said that he wished to quell speculation that the government might abandon the project to create an online platform allowing citizens to manage all their pensions.
“The dashboard is a key part of our desire to ensure consumers are able to understand their pensions and plan properly for their future,” he said.
Opperman added that DWP will serve as “the lead department” for the project.
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“Working with industry, consumer-facing organisations and regulators, this is a real opportunity for us to deliver an easily accessible online platform that allows consumers to see all of their pensions in one place,” he added.
The pensions dashboard will offer people a single digital platform from which they can view and manage all their pension pots, including the state pension, as well as employer and personal pensions. The dashboard is scheduled to launch in 2019.
Users will have the choice of using a number of different dashboards, with entities including banks, employers, and consumer advice groups offering various options. Some dashboards will also be available as mobile apps.
At the government’s request, a prototype of the pensions dashboard (pictured above) was created earlier this year by a team led by industry body the Association of British Insurers, and including input from “six leading technology firms”.