Pensions - Articles - PLSA responds to Pensions Dashboard consultation


The Pensions and Lifetime Savings Association (PLSA) has today (Monday) published its response to the Government’s consultation – Pensions Dashboards: Working together for the consumer.

 The Dashboard has the potential to revolutionise how people interact with their pensions by providing savers with an accurate picture of all their pension savings in a format that is easy to understand. It might also enable savers to achieve a better retirement income by helping them to locate lost pension pots. 

 Nigel Peaple, Director of Policy and Research, PLSA, said: “We fully support the Pensions Dashboard as a means of helping savers plan their retirement income and we back the Government’s recommendation that the project should start with a single, non-commercial dashboard, hosted by the Single Financial Guidance Body. 

 “As the most significant source of retirement income for many savers, it’s imperative the State Pension is included on the Dashboard from the outset and the PLSA’s Retirement Income Targets, which will help savers understand their saving objective, should also feature. Strong project governance is required to protect the interests of savers and give them confidence that dashboards are a force for good in the pensions industry.

 “We look forward to working with the Government, pensions industry and savers on this project, which will be vital in helping people to plan for a financially secure retirement.”
   

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