The Minister for Pensions and Financial Inclusion in the Department for Work and Pensions has published a feasibility report on how the pensions industry can create online pensions dashboards. A pensions dashboard is an online service which would allow people to access their information from most pension schemes in one place. The feasibility report forms the starting point for consultation on a range of matters including delivery models and governance.
The Department for Work and Pensions consultation paper sets out the Westminster Government’s recommendations for pensions dashboards and seeks views about what the new services will look like. The paper seeks views of as wide a range of people and organisations with an interest in pensions dashboards as possible, in particular pension providers, administrators, consumer bodies, and financial services and technology suppliers/intermediaries.
In general, Northern Ireland’s pensions policy and legislation operate in line with Great Britain, and there is, in effect, a single pensions system across the UK. It is anticipated therefore that any changes will be introduced here, subject to the necessary Ministerial, Executive and Assembly approvals.
Note: The author for this consultation is the Department for Work and Pensions. As such, all consultation information and related documents can be found on the GOV.uk website.