Government confirms implementation of pensions dashboards

The government has confirmed that the initiative to introduce a pensions dashboard will go ahead.

Pensions dashboards will allow those saving for retirement to view information from multiple pensions in one place stating that the dashboard will 'open up pensions to millions', and 'provide an easy-to-access online view of a saver's pensions'.

The Department for Work and Pensions (DWP) will bring forward legislation that will require pension scheme providers to make consumers' data available to them through their chosen dashboard. The plan is to include State pension information as well.

Mike Cherry, National Chairman of the Federation of Small Businesses (FSB), said:

'The government's commitment to compel pension schemes to share data with platforms through primary legislation is particularly welcome. Some urgency is now required, and we question the three to four-year timeframe for schemes to prepare data for dashboards.'

Internet links: GOV.UK Pensions dashboard fsb press release

© 2024 BRC accountants. All rights reserved. powered by totalSOLUTION
BRC Accountants is the trading name of BRC Accountants PKL Limited. Registered in England No. 11318648 VAT Number 294 154 488. Registered office addresss: BRC accountants, Suite 2, Healey House, Dene Road, Andover, Hampshire SP10 2AA . | We use cookies on this website, you can find more information about cookies here.