The Association of British Insurers (ABI) has set out its intention to take forward the next phase to deliver Pensions Dashboard, including potentially creating a prototype.
The Pensions Dashboard is designed to give customers a complete overview of their pension savings.It aims to help savers locate lost pension pots, inform their decisions on retirement planning and support the development of automated financial advice.
Go deeper with GlobalData
ABI noted that the next phase of the Pensions Dashboard project should involve finalizing the governance framework between industry, government and regulators; developing a prototype to test the technology; and see how the Pension Dashboard could work for customers. It should also include collaboration with the wider industry and interested FinTech start-ups.
ABI policy, long term savings and protection director Yvonne Braun, said: "The Pensions Finder project has laid the foundation for delivering this crucial project and its momentum must continue.
"As a project that is expected to be industry-led and funded, we believe the ABI is best placed to take forward the next phase to deliver the Pensions Dashboard.
"The ABI has an unparalleled record of delivering complex, industry-led projects in partnership with Government, such as FloodRe to ensure affordable flood insurance for households at high risk, and MedCo, to protect customers against unscrupulous claims management companies. The Pensions Dashboard should be next on the list.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData"We know we cannot do this alone. We want to work with Government and the wider industry so the Dashboard can help customers with public sector pensions and those in trust based schemes."
