Any pension dashboard will need to be able to cope with as many as 15 million people from day one, according to analysis by Origo.
Infrastructure behind the project, which is anticipated to be completed next year, needs to be ready and able for immediate access by high numbers of use, manage peaks and troughs, and scale to 15 million people.
The figure is based on an analysis of Statista UK age demographics and Pensions Policy Institute analysis, and also on estimates that 60% of working age have a workplace private pension and may want to access the dashboard.
This could be for various reasons, including passively monitoring their pension in accumulation, new savers wanting to understand their pension better, and savers seeking to find ‘lost' pensions. The estimate could rise further if people use the dashboard to find their state pension entitlement, and if non-workplace pensions are later included.
Origo managing director Anthony Rafferty said the infrastructure must be adequate regardless of how many dashboards eventually appear.
"It is imperative that the industry is able to deliver and maintain all the underlying services and data in a way that is secure, robust and scalable to handle 15 million consumers," he said. "Whether there is one or multiple dashboards from launch, as is still being debated, the underlying infrastructure must be flexible to cope with future technological requirements.
"Over time, demand for the service can only grow as more people join workplace pensions, particularly through auto-enrolment, and those also wishing to check on their state pension."
The government has not yet decided whether a single dashboard should be made available for consumers, or whether there should be a competitive market of them. A feasibility study, which may answer this question, is due to be published later this spring.
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