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The ABI, in conjunction with HM Treasury, will be managing the development of the prototype of a revolutionary new service that will help consumers view all their pension savings in one place online. This is will be announced today by Simon Kirby MP, Economic Secretary to the Treasury at a 'Building the Pensions Dashboard - the vision and next steps' event, held at Aviva’s Digital Garage in London. |
The Cross-Industry Project Group will be reporting regularly to HM Treasury, who will oversee the project following the commitment in the Budget to launch a Pensions Dashboard by 2019. The Group will work together with the wider industry, Government, regulators and trade bodies in developing the prototype.
As part of building the prototype, the Cross-Industry Project Group will:
Yvonne Braun, ABI Director of Policy, Long Term Savings and Protection, said: “Leading this Cross-Industry Project Group to deliver a prototype is a significant step forward in creating a one stop place to help savers see and understand their various pension pots.
"The ABI has a strong track record of delivering complex, industry-led projects in partnership with Government, such as FloodRe to ensure affordable flood insurance for households at high risk, and MedCo, to protect customers against unscrupulous claims management companies.
"Given our ageing society, it’s essential that we engage people in their long-term savings. The Pension Dashboard can help tackle under-saving as well as help savers locate lost pension pots, and empower them to get financially prepared for retirement."
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