The Government has restated its commitment to delivering pensions dashboards in a written statement.
Government reaffirms commitment to pensions dashboards
- The Government has restated its commitment to delivering pensions dashboards in a written statement
- Minister for Pensions Emma Reynolds MP emphasised progress by the Pensions Dashboards Programme
- The Minister also announced the MoneyHelper dashboard will be made publicly available before commercial dashboards are launched
The UK Government has reiterated its support for pensions dashboards and reported that the Pensions Dashboards Programme (PDP) is making good progress.
In a written statement to Parliament, the Minister for Pensions, Emma Reynolds MP, emphasised the Government’s commitment to launching pensions dashboards that will allow people to see all their pensions information together in one, online and secure place. The Minister highlighted PDP’s forward momentum. She noted the increased confidence of the Infrastructure and Projects Authority in the programme’s ability to deliver against its plan.
In her statement, the Minister also announced the state-provided MoneyHelper pensions dashboard will be made available to the public before commercial dashboards become operational. This will ensure that a dashboard is made available at the earliest possible point.
It will also create greater opportunities for testing with users before commercial dashboards launch. Prioritising the launch of the MoneyHelper dashboard will provide an opportunity to obtain better insights into customer behaviour and ensure greater confidence in operational delivery, security, and consumer protection before facilitating the connection of commercial dashboards.
PDP remains focused on connecting pension providers and schemes to the dashboards ecosystem. Connection with the programme’s volunteer participants has already started, and PDP is currently working towards wider industry connection under the timetable in guidance getting underway next year.
Minister for Pensions Emma Reynolds MP said:
“Everyone should feel confident about their retirement, and pensions dashboards will be a game changer for retirement planning, promoting greater engagement, which in turn could promote greater outcomes.
“Prioritising the launch of the MoneyHelper service ahead of commercial dashboards will help us gain greater insight into how people use the platform – putting customers at the centre of the design.
“I am fully committed to the delivery of pensions dashboards which will give future pensioners the choice and security in retirement they deserve.”
Oliver Morley, Chief Executive of the Money and Pensions Service which oversees PDP, added:
“Pensions dashboards will transform how people view their retirement savings, and will help pension providers and schemes’ engagement with better informed customers and members. Dashboards are a truly collaborative effort between government, industry and regulators. We are working hard together to create a service that puts savers in control of their pensions.”
ENDS
Notes for editors
The written statement by the Minister for Pensions can be found here.
- Author:
- Pensions Dashboards Programme
Published: 22 October 2024