UK. Industry comment on Pensions Dashboard announcement
Steve Webb, Director of Policy at Royal London said: “This announcement is a huge breakthrough after a period of uncertainty. There is much that the industry can do to deliver a dashboard, but only the government can supply vitally important state pension data and only the government can legislate to make sure that the dashboard’s coverage is comprehensive. Backed by this renewed commitment by the government, the whole pension industry now needs to work together to drive forward this much-needed initiative”.
Kate Smith, Head of Pensions at Aegon comments on the government’s announcement that the pensions dashboard is to be delivered by the industry: “We’ve always been a supporter of the pension dashboard and believe it has the potential for people not only to keep track of their pension pots but also to start to drive up pension engagement.
“The whole point of the pension dashboard is so people can see all their pensions online in one place. Government needs to facilitate this by legislating to compel all schemes and the State to provide pension detail when asked to do so. Without this the pension dashboard risks being half-baked.
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