BLOG: Take a chance on the dashboard

Written by Natalie Tuck
13/04/17

If you’re young enough to have grown-up with technology around you then you’ve also probably been asked by an older family member to help them master the deep dark world of technology.

To them it’s a deep dark world, to you it’s so integrated into day-to-day life that you can’t imagine a world without it and probably need help for Nomophobia (The fear of being without your phone).

From personal experience, older generations appear to want to use technology as much millennials but are a little more apprehensive, often worried that they could break something.

Akin to this, is the pensions industry, as it treads into the world of the pensions dashboard, finally embracing the possibilities of 21st century technology. At the launch of the prototype of the dashboard, on 12 April, attendees were shown a demonstration of how the dashboard might work, with an explanation of the technology behind it.

It is going to be no mean feat but it will be worth it. There is a lot of enthusiasm for the dashboard from many providers but the threat of compulsion has been made to others less willing to share data.

Economic secretary to the Treasury Simon Kirby said the dashboard brings us a step closer to being able to view all your pensions in one place alongside your ISAs and current accounts.

If that is the case, far from being the grandparents of the digital world, the pensions industry could soon be compared to the young hip digital start-up. Ambitious, it may be? But with the pensions dashboard the industry has a chance to play a part in revolutionising how we engage with our finances, and not just pensions. That is a chance not to be missed.

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