Pensions Dashboard update: Paul Pettitt comments
The Pensions Dashboard project is an important and exciting initiative for the UK consumer. It has the potential to significantly improve retirement planning, financial inclusion and consumer engagement with the pensions industry. Given the immense social purpose and the significant momentum already behind this project it should not be allowed to fail.
In keeping with our consumer focus, Origo has made a sustained and significant investment to the initiative on behalf of industry. In doing so, Origo has repeatedly demonstrated that there are no technological barriers to success. In Origo’s opinion there is no reason why dashboards should not go live by 2019 – the initial target given to Industry by Government.
The steps outlined by the ABI sets a clear roadmap for ensuring that consumers will have access to all of their pensions in one place. This requires Government to legislate that all pension providers and schemes make their data available. We therefore, urge Government to ensure the project which is in consumers best interests and so can only prove popular with them, receives the commitment and time it needs to become a reality.