The Money and Pensions Service has been asked to take a leading role in delivering the infrastructure to support pensions dashboards – this is being taken forward by a delivery group, supported by a steering group representing the pensions sector, consumers and fintech.
Commenting on today’s announcement of a Pensions Schemes Bill, which includes new powers to compel pension schemes to provide accurate information to consumers as part of the framework for pensions dashboards, Chris Curry, Principal Director of the Pensions Dashboards Industry Delivery Group at MaPS, said:
“This is a crucial next step towards the goal of delivering trusted dashboard services to help savers get information about all their pension pots in one online place of their choosing. As the details are worked out, it’s time for pension schemes, providers and their administrators to ensure they’re making plans for how their schemes will be ready to feed into the dashboards of the future.”
About the Money and Pensions Service
The Money and Pensions Service vision is everyone making the most of their money and pensions.
The new organisation brings together the free services delivered by the Money Advice Service, The Pensions Advisory Service and Pension Wise.
The Arms-Length organisation is sponsored by the Department for Work and Pensions, with a joint commitment to ensuring that people have access and guidance to the information they need to make effective financial decisions over their lifetime. The organisation also engages with HM Treasury, which is responsible for policy on financial capability and debt advice.
Working hand-in-hand with stakeholders throughout the UK, the Money and Pensions Service ensures that money and pensions guidance is available to those that need it, adapting to people’s changing needs throughout their lives, offering services and appointments over the telephone, online and in person where appropriate.
For further information for stakeholders, they should visit the Money and Pensions Service website www.moneyandpensionsservice.org.uk
Consumers can continue to access free guidance about their money and pensions via the following websites and help lines:
www.moneyadviceservice.org.uk / 0800 138 7777