The so-called ‘pension dashboard’ – initially due to launch in April 2019 – was intended to collate information relating to private, state and workplace pensions schemes and allow savers to see their pension pot in one central online portal. Contributor Jonathan Lima-Matthews, Director of Policy – IPSE.
Jonathan Lima-Matthews, IPSE’s Director of Policy, commented: “IPSE’s recent research, which formed the basis of our landmark report, ‘How to solve the self-employed pensions crisis’, found that 51 per cent of the self-employed trust Government websites as a source of guidance.
“This is clear evidence of the crucial role the Government can play in helping to solve the self-employed pensions crisis. That’s why IPSE is bitterly disappointed that the Government has now backed down on its earlier promise to deliver the crucial pensions dashboard. With just 31 percent of the self-employed saving into a pension, the Government must have a role in solving this crisis.
“On top of that, its reluctance to share information about the state pension – on which many people rely – will make it extremely difficult for the industry to produce a thorough product that will serve the needs of savers in the UK. PSE sees the pensions dashboard as a crucial tool in tackling the self-employed pensions crisis.”