"Bringing pensions online will transform retirement planning – giving people straightforward access to all their pension information in one place."
Theresa May and pensions minister Guy Opperman both reaffirmed their commitment to the launch of Pensions Dashboards this weekend.
May said: “Bringing pensions online will transform retirement planning – giving people straightforward access to all their pension information in one place. I welcome the industry’s commitment to make this new technology a reality.”
Opperman also said: “Having pensions information at the touch of a screen will ensure better-informed, more engaged savers and help many more people to plan effectively for retirement.
“Bringing pensions information into the digital age has the potential to revolutionise the way we all think about and plan for later life.”
A feasibility study on the dashboard is expected to be published by Opperman this week, with the first Dashboard predicted to go live in 2019.
Anthony Rafferty, managing director of Origo, commented: “Origo is delighted to see the Prime Minister and the Minister for Pensions and Financial Inclusion both re-affirming that the Government is committed to ensuring the delivery of Pensions Dashboards and welcoming the industry’s own commitment to this important initiative.
“There is no doubt in my mind that Pensions Dashboards will be instrumental in helping people to become more engaged with their pensions and also their retirement planning. With suitable controls and combined with education, guidance and advice Pensions Dashboards can be a massive catalyst to help consumers prepare for, and equally importantly, enjoy their retirement.
“Furthermore, we believe that Pensions Dashboards will be a foundation for innovation with the long-term savings industry and will be one of the biggest catalysts to engagement the industry has ever had.
“The industry has the right technology already developed and ready to make Pensions Dashboards a reality in a short space of time, certainly within 2019 if that is the timescale set by Government."