Pensions Dashboard speculation over scrapping
Following todays’ speculation on whether Pension Dashboard would be scrapped, Michael Roe, Development Director Origo, says
"We firmly believe that the Pensions Dashboard is important for consumers as it has the power to significantly improve peoples' engagement with their pensions and their retirement planning.
"Keeping track of multiple pensions can be difficult for many people. Having the Dashboard to give them a single source of pensions data, including their state and their private pensions will lead to better decision making. In an ageing population that is important as it can take pressure off the State.
"The intention was always for the industry to fund and deliver the project, to provide the pension data and to establish a Governance Body. Government was required to provide State Pension data as it forms a large part of many people's retirement income. Government was also to investigate a regime for compulsion.
"Industry can certainly still take the Pensions Dashboard forward and the technology has been proven by Origo and its partners to scale for 15m consumers. However, the best outcome for consumers was always a Government / Industry collaboration.
"We would hope that the Pensions Dashboard continues, given the clear benefits to UK consumers."