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Pensions dashboard: a simpler way to save for retirement?

The pensions dashboard could revolutionise the way we plan for retirement – our guest Guy Opperman MP, Minister for Pensions and Financial Inclusion, makes the case for it.

Facts at your fingertips. That is the simple idea behind pioneering proposals for new ‘pensions dashboards’ which will let you check your pension information on a smartphone or tablet for the first time.

Plain pensions information at the touch of a screen will ensure better-informed, more engaged savers and help many more people to plan effectively for retirement.

If we can manage our bank accounts and credit cards and pay the bills at the touch of a screen we should be able to keep on top of our important pension investments online too.

Top of the pots

Accurate, easy to understand, secure information showing us clearly how much we have in our pension pots and what we can expect to have to live on in retirement. And even helping us to find ‘lost’ pension pots.

I have been hugely encouraged by the initial response to the Department for Work and Pensions’ feasibility report into pensions dashboards unveiled earlier this month.

As Jenni Allen, Managing Director of Which? Money, said on the day I hosted a packed event in Parliament to launch the Government’s consultation on our vision, “pensions dashboards must work for consumers”.

Jenni welcomed what could be “a game-changing improvement to the way people manage their pensions”.

Dashboard choice

And pensions dashboards are now on the road to becoming a reality. The first dashboard is expected in 2019.

We have proposed that the new Single Financial Guidance Body – which will bring together services provided by the Money Advice Service, the Pensions Advisory Service and Pension Wise – will convene a delivery group of key players from industry, financial technology and consumer organisations like Which? to enable successful implementation of multiple dashboards.

Consumer protection and safeguarding data will be paramount.

The Government believes that consumers will benefit from having a wide choice of dashboards, and will work with the pensions industry to include State Pension information in due course.

Development and design of dashboards will be industry-led, facilitated by Government. We will legislate where necessary, for instance to compel pension schemes to give consumers data through dashboards.

Pension revolution

The dashboards need to be seen against the backdrop of the private pensions revolution which the Government is supporting industry to deliver.

In just five years, the proportion of eligible employees participating in a workplace pension rose from 55 per cent, in 2012, to 84 per cent in 2017.

This increase has been especially marked for young people. Among those aged 22 to 29 years, participation leapt from 35 per cent to 79 per cent over the same period.

Automatic enrolment into workplace pension schemes, launched in 2012, has created nearly 10 million new savers – a transformation of our savings culture.

We want people to get all the help they need to get ready for retirement. Pensions dashboards are another major milestone in this Government’s radical pension reforms, harnessing innovative technology to put consumers in control and revolutionise how we plan for later life.

This is a guest post by Guy Opperman. All views expressed are Guy’s own and not necessarily those also shared by Which?.

What do you think about the pensions dashboard – are they a good idea? Would you have any concerns using one?

DerekP says:
20 December 2018

Interesting post.

Starting with WIIFM (What’s In It For Me) I followed the above link and discovered:

“A pensions dashboard is an online service which would allow people to see information from multiple pensions, all in one place.”


“As a minimum, pensions dashboards can help to:
* increase individual awareness and understanding of their pension information and estimated retirement income
* build a greater sense of individual control and ownership of pensions
* increase engagement, with more people taking advantage of the available advice and impartial guidance
* support the advice and guidance process by providing people with access to their pensions information at a time of their choosing
* reconnect individuals with lost pension pots, benefitting the individual and industry
* enable more informed user choices in the decumulation phase (the point when a decision is made by a saver on how to access their savings) by making it easier to access the information on which to base these decisions”


“A dashboard service must operate in a way that balances industry innovation with data security. ”

Oh yes. Imaging having a single App that gives access to all one’s money on an easily losable or stealable device like a smartphone. Boy is that going to need very good data security.

But worst of all, would it become more or less compulsory to use this kind of tool?

Not everyone wants to be forced towards the use of smartphones and tablets (etc.) for personal financial management. Many of those on benefits will already be aware of the catch-22 situation in which a lot of the process for making and updating claims requires adequate internet access, when, if you’re already broke, you won’t be able to afford that (and you might not be living close to a decent free wifi hot spot or public library).


Derek they have a “trial ” website I had a look at it its got a vimeo video with a built in tracker thanks to GTM -Google Tag Manager same idea as YouTube embedded videos, also Google Analytics .
It also contains New Relic on trying to check on it ( new relic docs ) my blockers blocked it as -hp hosts, Ad and tracking servers with a big –Go Back !
Now I would though with something so serious and vital that it would only have green 1st party listings , not so –you wont believe this even the actual basic New Relic website is blocked by my blockers same issue.
Thank goodness I dont need to use it got the info years ago via my “old fangled ” phone ( no trackers on that ).


Personally, I’m not convinced that this will be secure. Why? Well it’s only as secure as it’s weakest link, and as always it’s the human user. Once this goes live just wait for all the emails, there’s a problem with the account please click here to verify …

It might be a nice idea, but I’ll need a lot of convincing it’s not going to be a fraudsters dream.

DerekP says:
21 December 2018

I also share those concerns.

Robert Harvey says:
21 December 2018

I have ended up with 3 pensions (4 if you include the state pension) having worked in IT for over 45 years. A dashboard would have been useful during the last 10 years. My concern is that it will need to regulate the providers who will wish you to switch to them.

For information, my wife who worked in pharmacy for over 40 years has 3 pensions and will get her state pension in 2014 .