Pensions dashboards could leave savers at risk of 'poorly informed' transfers

Research finds two-fifths of savers likely to use dashboards to carry out a pension transfer

Martin Richmond
clock • 3 min read

The introduction of pensions dashboards could result in more than £2bn of retirement savings being lost due to “poorly informed” transfers by 2030, according to research.

Data from the provider of The People's Pension's Pension Transfer Outcome Index – which is based on movements where people switch from a lower charging workplace pension that is subject to a charge cap, to a higher charging, uncapped retail schemes – found losses due to these transfers are forecast to rise from £1.2bn to £1.7bn by 2027. The index also reported this figure is anticipated to exceed £2bn by 2030. A survey of more than 2,000 adults, commissioned by People's Partnership and conducted by YouGov in September, found 42% of respondents said they would be likely to use a pensions ...

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

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Why the real problems of the pensions dashboard are yet to start

Why the real problems of the pensions dashboard are yet to start

'Its aims seem not only less relevant but potentially problematic'

James Floyd
clock 23 June 2025 • 5 min read
Turning data into dialogue: Helping clients visualise retirement realities

Turning data into dialogue: Helping clients visualise retirement realities

'Data is more than just a collection of figures, it's a powerful tool for engagement'

Joshua Croft
clock 20 June 2025 • 3 min read
Average pension transfer took just 11 days at tax year-end

Average pension transfer took just 11 days at tax year-end

Origo says transfer times decreased around tax year-end with half taking seven days or less

Jasmine Urquhart
clock 17 June 2025 • 2 min read