Pensions - Articles - The Pensions Dashboard under Labour

 “The Labour Party’s commitment to a pension dashboard in its manifesto is a positive step. Displaying costs and charges in an easy to follow, consistent way would be great news for all members of pension schemes. Defining and implementing that across the industry has been a challenge in the past so addressing it effectively will be key. However it is vital that progress towards implementing a dashboard is not delayed by the need to include all information. It would be best to get a dashboard up and running with solid data behind it and add functionality to it as it develops.

 “The public ownership of a dashboard also has implications. Enabling financial services providers to access the data and build it into their propositions will be key to drive the innovation and products needed by consumers. If we move to a single non-commercial dashboard and also prevent the use of the output by third parties it will massively reduce the ultimate benefit to consumers.”