Aegon has announced its intention to launch a commercial pension dashboard, following the Financial Conduct Authority’s (FCA) publication of a regulatory framework for pensions dashboard service (PDS) firms.

This framework established standards to ensure dashboards foster consumer confidence, supporting users in managing retirement plans effectively.

Despite sharing this framework, the FCA confirmed it will only begin accepting applications from firms when it is possible for a firm to show that it is ready, willing, and organised to undertake the new activity of operating a PDS.

Pension dashboards will allow individuals to see all their pensions online all in one place, including individual, workplace, private and public sector, defined benefit and defined contribution, and state pensions, not yet in payment.

Aegon said it supported the plans to prioritise the availability of the Money and Pensions Service Pension Dashboard to consumers ahead of making qualifying pension dashboard services available.

Aegon client and partnership development director, Nick Roy, said: “Dashboards will be a gamechanger in how people engage with their pension savings, so we are focused on enhancing our customer offering and supporting better customer outcomes.

“We are assessing options that will allow us to ensure our dashboard meets and exceeds our customers’ needs. This considered approach will enable us to make our dashboard industry-leading.”

Roy said this would be another “major step” in building a digital savings and retirement platform, citing its collaboration with The Pensions Lab as a move that has delivered an “innovative” solution to workplace members to help them track down and compare old pots.

“Ensuring that we support customers at key life moments is at the heart of Aegon’s strategy and our aspiration is to be their pension partner for life,” he said.

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