What’s this all about? – updated 7 July 2017
Most of us build up savings for our retirement through our work. But because many of us have several jobs during our lives, we end up with multiple bits of pension savings in lots of different places. This can make it very hard to understand your overall position.
Because of this problem, Government, industry, charities, academics and others think it would be a good idea to develop “pensions dashboards” where UK citizens can see all of their different retirement savings in one place.
This problem exists in many developed countries – it’s not unique to the United Kingdom. Several countries are years ahead of us and have already developed online pensions dashboard facilities for their people, including Denmark, The Netherlands and Sweden.
So, in March 2016, the then Chancellor George Osborne announced the Government would ensure that, by 2019, the pensions industry designs, funds and launches a pensions dashboard.
Since then quite a lot has happened (see Key events above, or Full history of events if you’re really interested). A prototype dashboard was demonstrated around Easter 2017, and the new Secretary of State for Work and Pensions remains supportive.
So what’s DashboardIdeas.co.uk for?
Developing pensions dashboards for the whole UK will be fiendishly tricky. There are lots of issues to resolve needing clever thinking, collaboration and discussion of options. Having the 2019 deadline in sight is a great impetus for answering these questions.
I hope that this website, serving a repository for knowledge, thoughts and ideas on all aspects of the pensions dashboard topic, will help inform and support debate, and support those contributing to the pensions dashboard initiative.
See the About section above for more details on why I’ve created this website and some brief background on me.
Many thanks for reading.
7 July 2017