The chairman of the Work and Pensions Committee Frank Field has written a letter to the pensions minister urging him to commit now to legislation for the pensions dashboard.
In the letter - sent on 29 November - Field pressed Guy Opperman to take action - noting that industry representatives are "keen to get started" but "urgently need the government to announce its intentions...
Employers are increasingly concerned about the costs and complexity associated with equalising guaranteed minimum pensions (GMPs), according to the Association of Consulting Actuaries (ACA).
The industry needs to spend a significant amount of money on data and administration to make the dashboard worthwhile, according to pension professionals.
Schemes must “act now” to equalise guaranteed minimum pensions (GMPs), pensions and financial inclusion minister Guy Opperman says.
The data the industry holds is not yet good enough for the pensions dashboard, industry experts say.
The Pensions and Lifetime Savings Association (PLSA) has unveiled a retirement living standards tool to help members engage with their pension and set retirement targets.