Pension Dashboards: A government consultation response

The government has responded to its 2018 Pensions Dashboard consultation – its plan to require pension schemes to make consumers’ data available to them through their chosen dashboard – and has concluded that legislation will now appear to make this a reality “at the earliest possible opportunity.”

Of the 125 responses to the consultation, the government said the responses were positive, and it has set industry the challenge of having schemes prepared so that data is ready within a 3-4 year timeframe.

It said:

• The Pensions Dashboard Prototype Project, managed by the Association of British Insurers (ABI), provided an important first step in demonstrating how the digital architecture could work
• Pensions dashboards could be an enabler for a step-change across the sector to modernise the way it communicates with its members

• Work is ongoing across government on a broader vision for digital financial services and that its long term view is that dashboards should be the first step towards pensions becoming part of this joined-up strategy