What is a pensions dashboard?

A pensions dashboard will show people all their pension pots online, securely and in one place.  The dashboard aim is to allow people to access clear and simple information about their multiple pension savings, including their State Pension. It will also help them to find any pension pots that have been lost. 

What is the problem that  pension dashboards are trying to solve?

Most people have worked in multiple workplaces throughout their lifetime, this has become more widespread since the mandatory introduction of pension enrolment. The average number of pensions someone will have when they retire is 11 and therefore keeping track of these is currently a manual task and because of this many people do not know how much their pension pot is worth. Understanding your pension pot is the basis of being able to plan your retirement.

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“Over three quarters (77%) of those surveyed said it will be useful to see all pension pots in one place online”  Aegon UK by Opinium study

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When will you be able to access one?

The date has moved a few times already due to the complexity of collating this information from multiple pension funds. The aim is to get this ready by 2026, previously it was 2023 this will now need to cover all schemes not just the main providers.
In the meantime you can manually create one by using our template - see resources.

How will it help you?

It will give you a pension snapshot of your total pension pot. This will save you time, by placing all the information in one view you will not have to manual do this yourself. 

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How does it differ to services that offer pension consolidation?

There are a number of services where you can transfer all your pensions (excluding your state pension) into one combined pot, which is then managed by one provider. This allows you to not only see your pensions in one place but also to manage them there. This is not the same as the dashboard which shows multiple pots with different providers, which may have different investment options and fees.