Pension dashboards

What are pension dashboards?

"Pensions dashboards will enable people to access their pension information in a single place online, in a clear and simple form, whether that is on a laptop or tablet. Putting individuals in control of their data, pensions dashboards will bring together all pensions information from multiple sources, which can then be accessed at a time of their choosing."

~ Department of Work and Pensions

The government intends to introduce legislation in 2019 to compel pension providers to share pension information so that consumers can be reunited with their old and lost pension pots. In reality, pension dashboards will take many years to fully deliver. PensionBee estimates complete data, including all pensions, will be available in 2025.

PensionBee's role in pension dashboards

As a leading online pension provider, PensionBee uses technology to help customers find and combine their pensions into one new online plan. As such, PensionBee brings years of experience in helping consumers extract information from their old pension providers, consolidating old pension pots (some of which have been lost or forgotten about), and engaging consumers digitally.

In 2018 PensionBee became the first pension provider to utilise Open Banking, enabling customers to see their live pension balance alongside their current account balance in some of the UK's most popular money management apps. In 2019 PensionBee became the first pension provider to adopt Simpler Annual Statements, providing customers with a short and clear overview of their pension.

In 2019, our CEO Romi joined the Financial Conduct Authority's working group on Open Pensions and Investments, advocating for safe and efficient protocols for consumers to share their data with trusted third parties.

Romi currently sits on the Money and Pensions Service's Pensions Dashboards Industry Delivery Steering Group. The Steering Group has been set up to help deliver pension dashboards to millions of consumers effectively and safely. Romi will use her experience from PensionBee to represent the consumer opinions she has gleaned from our customers as well as those of the wider pensions technology industry.

If you'd like to share your views on the government's Pensions Dashboard, please email dashboard@pensionbee.com.