Pensions - Articles - Royal London and Origo comment on the Pensions Dashboard

 Steve Webb, Royal London: “It is a real step forward that the government has indicated that state pension data will be included in the design of what it calls ‘pension dashboards’. This greatly increases the prospect of dashboards which cover all the key pension information which consumers need to know. The additional £5m a year for the DWP in 2019/20 is also a welcome symbol of the fact that the government is committed to taking this agenda forward, albeit more slowly than we would have wished”.

 Anthony Rafferty, Managing Director Origo, says: “Origo is delighted to see the statement in the Treasury Red Book today that ‘The government is taking steps to support the launch of Pensions Dashboards, innovative tools that will for the first time allow an individual to see their pension pots, including their State Pension, in one place’.

 “Origo is deeply committed to making the Pensions Dashboard a reality for the UK consumer as a means to help people better engage with their financial information and plan for their retirement years. We have already built the technology to securely find and enable retrieval of individuals' pensions data (once their identity is securely verified). We have always said that the Dashboard would be more effective for consumers if they could also see their State Pension on the same page and this now would appear to be the Government’s intention.

 “The Treasury paper also says further consultation will be needed with the industry on the detailed design of the Pensions Dashboard and further funding will be made available to help progress the initiative."