Pension Dashboards: A government consultation response
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