Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • April 2019
04

Government gives green light to pension dashboards in 2019

Open-access content Thursday 4th April 2019 — updated 5.50pm, Wednesday 29th April 2020

UK savers will soon be able to see all their pension savings in one place after the government today unveiled proposals for a series of dashboards that could come online later this year.

2


All pension providers will be required to make consumer data available on the dashboards, which will be accessible through smartphones, tablets and computers.

State pension information will be included "as soon as possible", and it is hoped that the online tools will also help reunite savers with nearly £20bn in lost pensions.

Pensions secretary, Amber Rudd, said: "Dashboards have the potential to transform the way we plan for retirement, providing clear and simple information in one place online.

"With record numbers saving for retirement, it's more important than ever that people understand their pensions and prepare for financial security in later life."

This comes after a near two-month dashboard consultation concluded in January, with the initial industry models expected in 2019.

However, the government believes that the majority of schemes will only be able to go live with their data within a three- to four-year window.

Multiple industry-led dashboards displaying the same basic are anticipated, along with a non-commercial dashboard delivered by the new Single Financial Guidance Body (SFGB).

And an industry group will be brought together by the SFGB to set out a timetable for operational dashboards, setting standards, and ensuring security to protect users and their data.

FinTech Origo's managing director, Anthony Rafferty, revealed that the "vast majority" of the 125 organisations involved in the consultation agreed with the suggested approach.

"There are four key elements to making the initial pensions dashboards a reality: governance, compulsion to provide data, state pension and digital architecture," he continued.

"The SFGB now has the task of putting in place the architecture that will be needed to make it a reality. It is important that the dashboard project has robust governance and security to protect the individual."


Sign up to our free newsletter here and receive a weekly roundup of news concerning the actuarial profession

This article appeared in our April 2019 issue of The Actuary .
Click here to view this issue

You may also be interested in...

2

Pension scheme trustees warned of chair statement rules

Pension scheme trustees must produce a chair’s statement that is compliant with the law or face mandatory fines, the Pensions Regulator (TPR) has warned today.
Tuesday 23rd April 2019
Open-access content
financial

Failure to scale automation technologies hindering returns, KPMG warns

Strong investment in intelligent automation (IA) technology has failed to deliver fast enough returns, with many projects stuck in “pilot mode” as firms struggle to scale.
Tuesday 2nd April 2019
Open-access content
2

BlackRock urges investors to rethink climate risk vulnerability

Investors are consistently underpricing the potential impacts of climate change on their assets, and need to reassess their vulnerability to an increasing number of risks.
Friday 5th April 2019
Open-access content
2

Less than half of UK workers aware of imminent pension hike details

Millions of UK workers will start saving more for their retirement tomorrow, but less than half of employees even know the details, a survey by Aviva has found.
Friday 5th April 2019
Open-access content
2

Pension industry expects CDC schemes to fail

Most of the UK’s pension industry expects collective defined contribution (CDC) schemes to fail, a survey by the Pensions Management Institute (PMI) has found.
Wednesday 3rd April 2019
Open-access content
2

Asian insurance market 'unsustainable' amid rising large-scale risks

A rising number of large and complex risks have rendered the Asian commercial insurance market unsustainable, Willis Towers Watson (WLTW) has warned.
Monday 1st April 2019
Open-access content

Latest from Pensions

ers

By halves

Reducing the pensions gap between men and women is a work in progress – and there’s still a long way to go, with women retiring on 50% less than men, says Alexandra Miles
Thursday 2nd March 2023
Open-access content
rdth

Make My Money Matter's Tony Burdon on the practical power of sustainable pensions

Years working in international development showed Tony Burdon, head of Make My Money Matter, that sustainable pensions can harness trillions of pounds to build a better world – at a scale governments and charities can’t. He talks to Travis Elsum
Wednesday 1st March 2023
Open-access content
KV

Liability-driven investments: new landscape

What now for liability-driven investments, after last year’s crash in the market? Pensions experts Rakesh Girdharlal and Moiz Khan say it should lead to a more balanced approach
Wednesday 1st February 2023
Open-access content

Latest from Archive

2

De-risking too far?

Simon Willes explains why investment de-risking a pension scheme without regard to employer covenant may not lead to optimal member outcomes
Monday 9th September 2019
Open-access content
2

Financial services stand to gain most from low-carbon transition

The financial sector is set to gain most from creating new sustainable products and services in response to climate change, a groundbreaking international study has revealed.
Tuesday 4th June 2019
Open-access content
2

Solvency II rules amended to slash insurers' capital requirements

The European Commission has slashed capital requirements for insurers investing in equity and private debt after amending key Solvency II rules.
Wednesday 13th March 2019
Open-access content

Latest from April 2019

2

Financial firms win most praise from NGOs this year

Eight of the 10 brands most praised by activist groups so far this year have been insurance and investment companies, a quarterly ranking by consultancy firm SIGWATCH has revealed.
Friday 26th April 2019
Open-access content
2

Sharp rise in global cyber attacks recorded

Three out of five firms experienced at least one cyber attack over the last 12 months, compared with less than half in the previous year, a survey of 5,400 organisations has found.
Thursday 25th April 2019
Open-access content
2

Californian insurance commissioner refuses to mandate climate risk disclosures

Californian insurers will not be forced to disclose their fossil fuel business after insurance commissioner Ricardo Lara yesterday rejected a petition from more than 60 public interest groups.
Wednesday 24th April 2019
Open-access content

Latest from small_opening_image

2

COVID-19 forum for actuaries launched

A forum for actuaries has been launched to help the profession come together and learn how best to respond to the deadly coronavirus sweeping the world.
Wednesday 25th March 2020
Open-access content
2

Travel insurers expect record payouts this year

UK travel insurers expect to pay a record £275m to customers this year as coronavirus grounds flights across the world, the Association of British Insurers (ABI) has revealed.
Wednesday 25th March 2020
Open-access content
2

Grim economic forecasts made as countries lockdown

A sharp recession is imminent in the vast majority of developed and emerging economies as the deadly coronavirus forces businesses to shut down across the world.
Tuesday 24th March 2020
Open-access content

Latest from inline_local_link

2

COVID-19 forum for actuaries launched

A forum for actuaries has been launched to help the profession come together and learn how best to respond to the deadly coronavirus sweeping the world.
Wednesday 25th March 2020
Open-access content
2

Travel insurers expect record payouts this year

UK travel insurers expect to pay a record £275m to customers this year as coronavirus grounds flights across the world, the Association of British Insurers (ABI) has revealed.
Wednesday 25th March 2020
Open-access content
2

Grim economic forecasts made as countries lockdown

A sharp recession is imminent in the vast majority of developed and emerging economies as the deadly coronavirus forces businesses to shut down across the world.
Tuesday 24th March 2020
Open-access content

Latest from 04

2

Financial firms win most praise from NGOs this year

Eight of the 10 brands most praised by activist groups so far this year have been insurance and investment companies, a quarterly ranking by consultancy firm SIGWATCH has revealed.
Friday 26th April 2019
Open-access content
2

Sharp rise in global cyber attacks recorded

Three out of five firms experienced at least one cyber attack over the last 12 months, compared with less than half in the previous year, a survey of 5,400 organisations has found.
Thursday 25th April 2019
Open-access content
2

Californian insurance commissioner refuses to mandate climate risk disclosures

Californian insurers will not be forced to disclose their fossil fuel business after insurance commissioner Ricardo Lara yesterday rejected a petition from more than 60 public interest groups.
Wednesday 24th April 2019
Open-access content
Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Life Actuarial Contract - Capital Project (outside IR35)

England
Negotiable
Reference
149010

Pricing Consultant (Non-Life)

London / Leeds
Up to £70,000 + Benefits
Reference
148996

Senior Actuary

London (Central)
Negotiable
Reference
148991
See all jobs »
 
 
 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2023 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ