PensionsSep 25 2019

Pension dashboard steering panel named

twitter-iconfacebook-iconlinkedin-iconmail-iconprint-icon
Search supported by
Pension dashboard steering panel named

The Money and Pensions Service has appointed ten industry specialists to lead the development and delivery of the impending pension dashboards.

The government backed guidance body announced today (September 25) that it has appointed 10 members to the pension dashboard steering group to represent the interests of consumers and stakeholders in the project.

The pension dashboards will give people throughout the UK access to information about what pensions they have, who manages them and what they are worth.

The steering group was set up to work on the practicalities of establishing pension dashboards and making them available to the general public.

The group will also support the work of the Industry Delivery Group (IDG) which was established within Maps to develop the technology that will enable the dashboards.

The steering group members are as follows:

Name

Job title

Organisation

Sector

Andrew Lowe

Change and data solutions director

Institute and Faculty of Actuaries (IFoA) and Equiniti

Pensions provision and administration

Dominic Lindley

Independent

Independent

Consumer

Francis Goss

Chief commercial officer

AHC

Consumer

Kim Gubler

Chair

PASA

Pensions provision and administration

Nigel Peaple

Director of policy and research

PLSA

Pensions provision and administration

Paddy Greene

Head of money and consumer rights policy

Which?

Consumer

Romi Savova

CEO

PensionBee

Fintech

Samantha Seaton

CEO

Moneyhub

Fintech

Will Lovegrove

Independent

Independent

Fintech

Yvonne Braun

Director of policy, long term savings and protection

ABI

Pensions provision and administration

Yvonne Braun, director of policy, long term savings and protection at the ABI, said: “ The ABI was one of the earliest backers of pensions dashboards and we led the cross-industry project that built the pensions dashboard prototype for HM Treasury. 

“I look forward to working with my colleagues on the group to ensure that a safe and dynamic market emerges that can revolutionise how consumers engage with their pensions.”

Andrew Lowe, change and data solutions director at IFoA, will be representing the actuarial profession throughout the project.

He said: “I believe that this is a once in a generation opportunity to highlight the value of pensions to millions of savers. The transparency that dashboards can provide will hopefully deliver improved trust and understanding for individuals.  

“This should ultimately lead to consumers being able to take more responsibility for their own financial future.”

Chris Curry, director of the Pensions Policy Institute, was appointed in June as principal of the pensions dashboard industry delivery group and Angela Pober, implementation director of the IDG will also be a member of the steering group.

In order to get a spot on the steering group applicants had to provide written submissions demonstrating their expertise against selection criteria, as well as testimonials proving their leadership in the field.

Mr Curry said: “The formation of the steering group signals another important step forward in this project. I look forward to working with the steering group members, who bring both expertise and the perspectives of their various sectors to ensure nothing is forgotten in the development of dashboards.

“Over the coming months, we will also be forming working groups to work alongside the steering group, where subject matter experts will provide input into the design of the service.” 

The steering group will hold its first meeting next month and will focus on setting out a roadmap for the delivery of the dashboards, providing guidance on delivering the best customer experience, and determining what data the pensions industry will need to provide for dashboards to be operational.

Sir Hector Sants, chair of Maps, said: “It is vital that people are equipped with the tools and knowledge to engage with their pensions and plan for retirement. This group represents a great blend of the expertise needed to ensure the successful delivery of revolutionary pensions dashboards.”

The government confirmed in December it will introduce multiple pension dashboards, with the first one, developed by Maps, expected to launch in 2019.

The IDG will set out a timetable for other fully operational dashboards, as well as setting standards and ensuring security across the portals. 

But the industry is still waiting for the Pensions Bill to pass through parliament so legislation for the pensions dashboard can be published.

In the Queen’s speech on October 14 the government will list the main bills to be introduced during the parliamentary session but it remains to be seen whether the Pensions Bill will make the cut.

When asked whether it had put forward the Pensions Bill for consideration a spokesperson from the department for Work and Pensions declined to comment but said it would be put forward at the “earliest opportunity”.

The bill includes rules governing the pensions dashboard as well as measures to introduce increased powers for The Pensions Regulator and collective defined contribution schemes.

amy.austin@ft.com

What do you think about the issues raised by this story? Email us on fa.letters@ft.com to let us know.