In its response to the consultation on the dashboard, out today (April 4) the government stated it would bring forward legislation to "compel all pension providers to make consumers’ data available".
It is expected that the majority of schemes will be ready to go live "within a three to four year window".
The government also confirmed that state pension information will be included as soon as possible.
The pensions dashboard will allow savers to log in and view all of pension pots, including details of the state pension, in one place and gain an insight into their expected income in retirement.
The government will allow providers to create their own dashboards but expects these services to be free and user-friendly.
As previously stated a non-commercial dashboard will be delivered and overseen by the new Single Financial Guidance Body (SFGB).
Work and Pensions secretary Amber Rudd, who gave the green light to the pensions dashboard this morning, said the initial industry models are expected later this year.
Ms Rudd said: "With record numbers saving for retirement as a result of our revolutionary reforms, it’s more important than ever that people understand their pensions and prepare for financial security in later life.
"Dashboards have the potential to transform the way we all think about and plan for retirement, providing clear and simple information regarding pension savings in one place online. I’m looking forward to seeing the first industry dashboards later this year."
The consultation response also outlined plans for an industry delivery group, brought together by the SFGB, that will set out a timetable for fully operational dashboards, as well as setting standards and ensuring security across the portals.
John Govett, SFGB chief executive, said: "Our vision is everyone making the most of their money and pensions. A big part of this is equipping and empowering people to engage with their pensions, often the biggest financial investment they will make.
"The new pensions dashboards will play a crucial role in this, helping people make decisions about their money and pensions with confidence, so they can enjoy greater financial wellbeing throughout their lifetimes."
The government initially put the proposals forward three years ago as a way of limiting the number of ‘forgotten pensions’.
Data from the Association of British Insurers showed more than 1.6m pension pots had been ‘lost’ with the value amounting to roughly £20bn.
Yvonne Braun, director of long-term savings and protection policy at the ABI, added: "The digital retirement revolution is here at last. All the pieces are being put in place to deliver the easy access to retirement information everybody needs and that the pensions industry is so keen to deliver.
"The ABI, leading a cross-industry group of pension providers and schemes, has already put years of work into making dashboards happen and we can’t wait to see these vital services in action."
Elliot Silk, head of commercial at Sanlam UK, said: "It is great news to see that government is disusing items outside of Brexit. The pensions dashboard will be great in providing the general public with the ability to see all of their pension plans plus the State Pension in one place.
"However as an industry and so as not to lose the faith of the British public, we need to ensure that the information displayed is complete and correct. This will be an almighty task and it’s important that all stakeholders pull together to ensure that this project is a success."
However, while welcoming the government's commitment to the project, AJ Bell warned there could yet be delays to its implementation due to Brexit.
Tom Selby, senior analyst at AJ Bell, said: "Introducing pensions dashboards has clearly been shunted down the priority list as the vice-like grip of Brexit on parliament grows ever tighter.
"In the current political climate there is no guarantee the Pensions Bill needed to compel schemes to provide data to pensions dashboards will see the light of day in 2019."
Meanwhile Helen Morrissey, pension specialist at Royal London, warned the industry needs to ensure it gets the dashboard right from the start.
She said: "If done properly the dashboard will give people a full understanding of what they have saved. If it is rushed, or we don’t have all interested parties on board from the beginning, there is a risk that we will not be able to deliver something meaningful or credible and the opportunity to engage people will be lost."
She added: "The government’s plan to provide a link to state pension is simply not good enough - pressure needs to be put on HMRC to get the state pension data integrated from day one if the dashboard is to work."
