Today the FCA published draft rules requiring pension providers to connect pension data to the pension dashboards infrastructure and make data available to customers at their request.
Yvonne Braun, Director of Long-Term Savings at the Association of British Insurers said:
"This marks another big step towards making dashboards a reality. It’s important to ensure their rules fit with the Department for Work and Pensions proposals.
“The easy availability of this data to consumers will not only give people a much greater sense of ownership of and control over their pensions, it will also stimulate new services to support far better planning for retirement which is critical for financial wellbeing.”
Last month the ABI published A Vision for Pensions Dashboards: The industry and stakeholders’ outlook on a new era of pension engagement and research by Britain Thinks on what consumers think about pensions dashboards.
For more information contact the press office.