The UK Government has announced delays to a planned timetable which will eventually allow people to view all their pension pots, including State Pension, online in one place. The Department for Work and Pensions (DWP) said that more time is needed for the complex build of pensions dashboards to be set up.
Pensions dashboards would help people to plan for their retirement and see where there may be shortfalls they need to make up. Pension schemes were due to start connecting to dashboards from August 31, 2023, and dashboards were expected to be available to the public next year.
Some experts expressed frustration at the latest announcement, saying the industry has been left in "limbo", while others said a reset is appropriate to work through complex technical solutions and challenges. Former pensions minister Sir Steve Webb, who is now a partner at consultants LCP (Lane, Clark and Peacock), said: "This latest delay in the rollout of pensions dashboards to the public is deeply frustrating.”
