New Model Adviser - For professional financial planners

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

More than 100 responses to pensions dashboards consultation

The Department for Work and Pensions has received over 100 responses to its consultation and feasibility study on the pensions dashboards

More than 100 responses to pensions dashboards consultation

The Department for Work and Pensions (DWP) has received over 100 responses to its consultation and feasibility study on the pensions dashboards.

Speaking to New Model Adviser®, the DWP confirmed the consultation, which closed on 29 January, has received 125 responses.

A DWP Spokesperson said: ‘We are pleased our consultation on pensions dashboards has generated a lot of interest and a high volume of responses. This important innovation will bring pensions into the digital age, giving savers information about all their retirement pots in one place online.

‘We are considering all contributions to our consultation and will publish our conclusions in due course.’

The long-awaited pensions dashboards feasibility study was published in December 2018 and proposed the government’s plans to legislate to force firms to provide data to the dashboard.

It also confirmed plans to have multiple dashboards rather than one single platform and that the non-commercial dashboard would be governed by the Single Financial Guidance Body (SFGB).

At an industry event this week, pensions minister Guy Opperman stated that the response will be published in mid-March.                           

While the Single Financial Guidance Body is yet to publish its business plan, the anticipated launch of the initial pensions dashboard platform may also be delayed.

On publishing the consultation, Opperman said: ‘I am extremely optimistic we can move forward together to make sure the dashboard happens and to move pensions into the 21st century.

'The individual dashboard [run by the SFGB] will encourage more people to seek guidance and advice in their retirement planning.' 

Share this story

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
More Content
7355.31 + 64 0.88% 04:35
More Content
More Content

BUSINESS

1 Comments Profile: Fiona Oliver and James Roberts of Partners Wealth Management

Profile: Fiona Oliver and James Roberts of Partners Wealth Management

James Roberts and Fiona Oliver represent the changing face of Partners Wealth Management, which has drafted in a raft of big hitters since we last visited the firm

ADVICE

CISI on planning exams: we need to do more on ethics

CISI on planning exams: we need to do more on ethics

The ethics element to advisers' training is not yet strong enough, according to this week's podcast guest, Jackie Lockie, head of financial planning at the Chartered Institute for Securities & Investment.

twitter_banner

INVESTMENT