What’s the Pensions Dashboard Programme?

Are you having trouble keeping track of all your pension assets? Maybe you’re having difficulty planning your retirement?

Well, the government-backed Pensions Dashboard Programme is set to be a game changer for all of us in the UK.

Once launched, users will have a central hub on the Pensions Dashboards website (This link opens in a new window) to access all their pension information online, securely and most notably - all from one place.

This will mean your private pensions, employment pensions and even your state pension can be tracked and monitored together.

Who’s setting up the Pensions Dashboard Programme?

In 2019, the UK government established the Money and Pensions Service (MaPS) by merging the Money Advice Service, The Pensions Advisory Service and Pension Wise.

These bodies are government-backed organisations that aim to improve awareness of pension regulations, assets, and retirement options.

In 2020, the Pensions Dashboard Programme was launched by the service and is currently in development with updates suggesting it’ll be a ground-breaking for the pension industry.

What are the goals of the Pensions Dashboard Programme?

Whilst the Pensions Dashboard Programme is still a work in progress, its goals are as follows:

• To increase individual awareness and understanding of pension information and estimated retirement income
• To build a greater sense of control and ownership over pensions
• To increase engagement
• To support the advice and guidance process by enabling people to access pension information at a time of their choosing
• To reconnect people with ‘lost’ pension pots.

Keeping your information up to date

The launch of this new service is potentially just a couple of years away so we’re asking you to log in to your My Pension Online account today and check that your details are correct and up to date.

This will help us make sure that the connection between your teacher’s pension and your pension dashboard is accurate.

You can find more information about the Pensions Dashboard Programme and view updates on its development by visiting their website (This link opens in a new window)today.