Pensions Dashboard

Pensions Dashboard.

The Treasury has confirmed that its new pension dashboard, where you will be able to see the details and values of all your pension schemes will launch by Spring 2017.

The dashboard will initially be piloted by 11 pension companies:  Aviva, Aon, HSBC, LV=, NEST, Now:Pensions, People's Pension, Royal London, Standard Life, Willis Towers Watson and Zurich.

The Treasury claim these are the leading pension players and that it will enable people to keep track of all their pensions and not lose/forget about older pensions.  In short, you will have a better idea than you did have about exactly where you are with your total pension planning target.

Our view

Firstly, we welcome the concept, it is something we have been working on for a while now, we even own the domains pensiondashboard.com and pensionsdashboard.com.  The issue for us at this early development stage is that the real big hitters when it comes to pensions and household names like Aegon, Axa, Legal & General, Prudential, Scottish Widows are not there yet.  Of course, no doubt they will come on stream. Some of the newer pensions offerings are in this initial round and to be quite honest, many people will not hold their main pension ‘pots’ with them yet.

That said, the more up to date information a consumer has about the value of their pension or investments the better.