Following the publication of the Written Ministerial Statement on Pensions Dashboards, Dr Yvonne Braun, Director of Policy, Long Term Savings and Protection, Association of British Insurers (ABI) responds:
“With more than £26bn in unclaimed pension pots, Pensions Dashboards have the potential to be transformational. They can boost customer engagement and help people reconnect with their forgotten pensions. We are pleased that Government remains thoroughly committed to the delivery of pensions dashboards but agree that a reset is appropriate to work through the complex technical solutions and challenges. While having to delay such an important programme is always disappointing, we remain strong advocates for the project to progress as quickly as it safely can.
“It's right that the regulatory deadlines for providers are pushed back in line with this delay. There needs to be enough time for testing and onboarding, with the industry closely involved and learning shared widely, to ensure that dashboards work for consumers and that they can fulfil their potential. It is also important that work to help firms prepare to connect should continue during this reset.”