With a fifth of people in the South East with a pension admitting to having lost track of a pension pot, we are pleased to see in the Queen’s Speech that the Government intends to introduce legislation to compel pension companies to provide the data needed to make the pensions dashboard – a place to see all your pension savings online - work for savers.
Without compelling providers to supply data, the dashboard would remain a pipedream. But there remains a package of measures necessary if the public are to have confidence in it. If the Government continues to promote multiple dashboards, it’s vital that a legal duty to operate in the best interests of savers is placed on all operators.
Director of policy for The People’s Pension and former shadow pension minister