Darren Philp, Director of Policy and Communications at Smart Pension, said:
“This response from the Government marks the beginning of the next phase of the pensions dashboard. But let’s not dwell for too long, because we now need to get our collective heads down and crack on if we’re to develop something that really delivers for pension savers."“While the original ambition for delivery of a dashboard this year is not going to happen, strong progress can still be made and we need to build momentum with the Single Financial Guidance Body overseeing development and implementation. As always there is a balance to be struck between innovation and consumer protection, but we think the proposal to permit multiple dashboards is a positive step and dovetails nicely with the modern way in which people manage their finances."“We think most modern DC schemes should be able to hook up to a dashboard quite quickly once the data standards and architecture is agreed. For others it will take more time and legislation, but we think a great first step would be for a pension finder service to cover all schemes.”
Smart is a global savings and investments technology platform provider. Co-founded in 2014 by Andrew Evans, Group CEO, and Will Wynne, Group MD, it is one of the UK's largest providers of workplace pensions. Its award-winning master trust, Smart Pension, is overseen by independent professional trustees.
In 2020 Smart Pension was named Master Trust Offering of the Year at the Pension Age Awards. Other awards include DC Master Trust of the Year, DC Innovation of the Year and Retirement Innovation of the Year in the 2019 UK Pensions Awards. Smart Pension was also named European Pension Fund of the Year 2019 in the European Pension Awards.
Legal & General Investment Management (LGIM), J.P. Morgan, Link Group, Natixis Investment Managers and Barclays are all investors in Smart.
We tweet as @SmartPensionUK.
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