What are pensions dashboards?
The Government, alongside the financial industry, are planning to launch a new initiative that gives you the ability to search securely and see your pensions in one place, including your state pension.
Increasingly pension savers in the UK have more than one pension, so it’s easy to lose track of what you’re saving for retirement. Pensions dashboards should make it a lot simpler to see your pensions in one place and help you reconnect with lost pensions.
With your consent, data will be provided by pension administrators and the Government to pensions dashboards.
Pensions dashboards will give clear and simple information about your pension, which should help you feel more confident about dealing with your pensions savings. That means you can plan for the retirement you want.
When will pensions dashboards be available?
Pensions dashboards aren’t available just yet, but we’re working alongside the rest of the pensions industry, the Government and the Regulators to make them available to pension savers by the mid 2020s.
Keep checking this page for the latest information.
What will pensions dashboards show?
Pensions dashboards will show an indicative snapshot of your different pensions found by the secure digital search, and the estimated income you might have at retirement.
You’ll only be able to see basic information about your pensions. If you need more detailed information, for example to make decisions about your retirement savings, you’ll still need to contact your various pension schemes and providers, as you do today.
If you want to see a little more on how dashboards will work, you can watch this video.
What can I do at the moment?
Pensions dashboards are a little way off, but you don’t need to wait till then to find any pensions you may have forgotten about. There’s lots of things you can do now.
- It's worthwhile tracking down any forgotten pensions now so your information is already there when the dashboards go live.
- You could check your pensions paperwork to make sure your details are correct and up to date.
- Make sure, where you can, that you have online access to any pensions you hold, so you can check your data is accurate.
- If you know you’ve already got more than one pension, you could think about putting them all in one place and combine your pensions. Read more to manage what you've got to find out if this is suitable for you.
Remember that the value of your pension is not guaranteed, and can go down as well as up. You may get back less than you invested.