• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Taxation
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Directory
  • Video
  • Advertise with us
  • Directory
  • Events
  • European Fund Selector
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Directory
  • Events
    • Upcoming events
      event logo
      Sustainable Investment Festival 2021

      The Sustainable Investment Festival will run online from 22-25 June and will include thought-provoking presentations from renowned keynote speakers, innovative breakout events and sessions specifically tailored to meet the information needs of fund selectors, financial advisers, pension consultants, trustees and scheme managers.

      • Date: 22 Jun 2021
      • Online, Online
      View all events
  • European Fund Selector
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Video
  • Pensions

Millions could ‘lose £15,000’ if gov’t scraps pension dashboard

Millions could ‘lose £15,000’ if gov’t scraps pension dashboard
  • Pedro Gonçalves
  • @PeterHSG
  • 30 August 2018
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

Around 10 million people in the UK stand to retire with £15,000 less if the government scraps the pension dashboard, according to research by 38 Degrees.

In July it was reported secretary of state for work and pensions Esther McVey has moved to kill off the pension dashboard, saying the service should not be provided by the state.

Related articles

  • Pensions dashboard petition secures 125,000 signatures
  • Industry demands UK government ‘stands by promises’ on pensions dashboard
  • 'Wrong' petition site means dashboard will not be debated in Parliament
  • Pensions dashboard raises security issues

The campaign group calculated the £15,000 figure by looking at government data that suggested there will be 49.6 million dormant pension pots worth £757bn by 2050. Dividing £757bn by 49.6 million gives an average pot size of about £15,000.

38 Degrees hosts the petition to save the pensions dashboard, which has now gathered 174,690 signatures.

The so-called pensions dashboard— designed to bring together private, workplace and state pension information — was supposed to be launched in April next year.

38 Degrees campaign manager Lorna Greenwood said: “This research proves that millions of people stand to lose hard earned savings if the government breaks its promise to provide the pensions dashboard.

“There is huge public concern over how difficult it is for ordinary people to keep track of their pensions. Millions of people will face impossible decisions during old age like whether to eat or heat their homes.”

In 2016, the government asked the pensions industry to build a prototype dashboard, ahead of the launch of a full dashboard by April 2019. While a prototype was built, the government is yet to put a regulatory framework in place so that information can be stored and access safely.

September has been identified by some companies as the cut-off point by which the government must have published its feasibility study, or the dashboard may not launch in time to meet its deadline.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Pensions
  • UK
  • Esther McVey
  • Pension dashboard
  • Pensions
  • Retirement

More on Pensions

UK government must 'U-turn' on pension age change

  • Pensions
  • 09 April 2021
STM 'minimised' exposure to historic Carey Pensions issues

  • Pensions
  • 09 April 2021
Pensions Ombudsman to restart Carey Pensions claim investigations

  • Pensions
  • 07 April 2021
Covid success to see cashing in 'surge' over pension freedoms

  • Pensions
  • 06 April 2021
SIPP investor Adams wins Court of Appeal battle against Carey Pensions

  • Pensions
  • 01 April 2021
Back to Top

Most read

Will Cardano's coming of age hit Bitcoin and Ethereum?
Will Cardano's coming of age hit Bitcoin and Ethereum?
UK government must 'U-turn' on pension age change
UK government must 'U-turn' on pension age change
UK life office CEO dies
UK life office CEO dies
Dubai financial regulator names new chairman
Dubai financial regulator names new chairman
US regulator targets 'opaque' money laundering in beneficial ownership notice
US regulator targets 'opaque' money laundering in beneficial ownership notice
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading