pensions dashboard
Dashboards won't be easy but they will revolutionise pensions understanding
Getting data ready and providing estimated retirement incomes may be difficult, but the industry must do its best to make dashboards a reality, says Nigel Peaple
EXCLUSIVE: What's keeping pension professionals positive during lockdown?
It’s not all gloom and doom say Buzz respondents…
'Draconian penalties' promised for schemes with poor dashboard data
Pensions and financial inclusion minister Guy Opperman has warned schemes who do not have their data organised to the standard required for the pensions dashboard will face “draconian penalties.”
Still no decision on who will run the pensions dashboard
No long-term decision has yet been made on who will run the pensions dashboard once it has been built, according to Pensions Dashboard Industry Delivery group principal Chris Curry.
Government to question Maps on pensions dashboard progress
The Work and Pensions Committee is due to question the senior leadership of the Money and Pensions Service (Maps) on the progress made in developing the pensions dashboard.
Which? calls for urgent introduction of a pensions dashboard
Which? has called for urgent introduction of a comprehensive pensions dashboard after an investigation revealed how the current system leaves workers struggling to track down their retirement pots.
Chair's statement rules are too harsh, say Buzz peers
This week's 104 Pensions Buzz respondents agreed that the regulations surrounding chair's statements are too harsh.
Opperman urges schemes to act now and prepare dashboard data
Pension providers must now be proactive and prepare their data in order to be ready for the pensions dashboard, Guy Opperman has warned.
Government must prioritise combatting pension scams, says industry
The industry is urging the government to prioritise combatting pension scams in 2020, according to research by the Society of Pension Professionals (SPP).
PMI Student Essay Competition: What the dashboard can learn from open banking, Midata and Fitbit
LCP’s Ella Purkiss was the winner of the PMI's second student essay competition. In her paper, she sets out her ideas as to what the industry can learn from other sectors when designing and delivering the pensions dashboard.
Industry agrees DC master trusts have set a good example for other schemes
This week's 88 Pensions Buzz respondents agreed that defined contribution (DC) master trusts have set a good example for other types of DC schemes during the authorisation process.
Data quality is pensions dashboard's 'weakest link'
The quality and availability of data is the “weakest link” for the pensions dashboard, according to the Society of Pension Professionals (SPP).
Do we need to engage people with their pensions?
The industry has had little success engaging members with pensions over the past 20 years. Jonathan Stapleton says two initiatives currently underway may change this in the future.
DWP proposes levy hike as funded bodies see 'continuing change and growth'
The Department for Work and Pensions (DWP) has proposed increasing the general levy on occupational and personal pension schemes from 1 April 2020.
Spend money on data to make dashboard beneficial, says industry
The industry needs to spend a significant amount of money on data and administration to make the dashboard worthwhile, according to pension professionals.
Schemes with poor record keeping should receive harsher punishments
Schemes with poor record keeping should be handed harsher punishments, say the majority of this week’s 83 Pensions Buzz respondents.
ACA calls for key policy measures to be included in pensions bill
The Association of Consulting Actuaries (ACA) has called for five key policy measures to be included in the upcoming pensions bill.
Pensions bill possible as date set for Queen's Speech
Boris Johnson's government will deliver its first Queen's Speech on 14 October, the prime minister has announced.
L&G acquires MyFutureNow to provide 'dashboard view' of member pots
Legal and General (L&G) Retail Retirement has purchased a 100% stake in MyFutureNow - which specialises in pension pot tracing and consolidation - for an undisclosed price.
Pensions minister: Saving trends on right track but we must go further
With record numbers saving for retirement, Guy Opperman says we have an opportunity to make it easier for people to engage with their pensions
The PPF is right to vote against CVA proposals, say respondents
This week's Pensions Buzz respondents agreed the Pension Protection Fund (PPF) is sometimes right to vote against company voluntary agreement (CVA) proposals.
Chris Curry appointed as dashboard delivery group principal
The Money and Pensions Service (MAPS) has appointed Chris Curry as principal of the Pensions Dashboard Industry Delivery Group.
TPR reveals plans to reduce 'poorly-run' schemes
The Pensions Regulator (TPR) is focusing on reducing the number of "poorly-run" schemes as it seeks to improve standards across the board.
Bigger is not better when it comes to pension consulting, says industry
Bigger is not always better when it comes to pension consulting, last week's Pensions Buzz respondents said following Marsh & McLennan's $5.6bn acquisition of JLT.
