01204380038 syddall@pbsyd.co.uk

First pensions dashboard expected in 2019

4th December 2018

The Government has published plans to create online pensions dashboards, with the first stage expected in 2019.

The plans proposed by the Department for Work and Pensions (DWP) say multiple dashboards will then be introduced in the following years.

Pensions dashboards, which were first proposed in 2016, are intended to allow savers to see information from their pension schemes in one place online.

Pensions minister Guy Opperman said the dashboards "will ensure better-informed, more engaged savers and help many more people to plan effectively for retirement".

However, without legislation to compel pension providers to submit their data, industry groups have raised concerns that the dashboards could fail to capture some pension information.

There is also no guarantee that state pension data will be available in the dashboards, though the Government has said it will work to include it "at some stage".

Nigel Peaple, director of policy and research at the Pensions and Lifetime Savings Association, said:

"The state pension can be a significant source of retirement income for savers so any dashboard would be incomplete without it.

"Our members feel strongly that no dashboard should be established until it can include a saver's state pension data in an appropriate form and we welcome DWP's goal of achieving this."

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