Provider Scottish Widows has agreed with the pensions minister that a swift implementation of an industry-wide pensions dashboard will not be possible in the current market.
The provider said at present it would be difficult to harmonise consumer savings information across all providers and the state pension because the market is too fragmented and lacks a coherent approach. Consumer champion Which? had called for a dashboard to be introduced in the Chancellor's Budget next week with a clear timeline for its implementation. The organisation said it wants the dashboard to allow savers to see all their pension pots in one place, alongside their state pension forecast, after it found almost half of over 50s do not know the value of their pension. The Fina...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes