Legal and General (L&G) has appointed MoneyHub as its qualifying pensions dashboard service technology provider, aimed at helping shift the dial on how people prepare for retirement.

The firms will partner on a new pension dashboard allowing L&G pension scheme members to find and view pension data in one place, as soon as The Pensions Regulator permits.

This was highlighted as the latest step in L&G’s and Moneyhub’s work to support the launch of pension dashboards to consumers as soon as possible.

Both firms have been collaborating with the government on its central Pensions Dashboards Programme since the alpha test phase and are founding members of the Dashboard Operators Coalition, an industry body aimed at promoting collaboration between providers, government and regulators in the move towards dashboards.

The dashboard will form a core part of L&G’s digital suite of services, with a formal launch expected after confirmation of the Dashboards Available Point date.

The solution is expected to complement L&G’s broader digital pensions ecosystem, including the firm’s mobile app leveraging Moneyhub’s open finance technology, which is in the final stages of development and expected to launch imminently.

Commenting on the new partnership, L&G Retail CEO, Bernie Hickman, said: “Our partnership with Moneyhub offers an exciting opportunity to help us deliver the best long-term retirement outcomes for pension savers.

“As a provider leading the way in offering a pensions dashboard, we wanted a forward-looking partner to collaborate with on our ambition.

“This partnership is about harnessing the power of technology to deliver positive change, get more people to engage with their savings and ultimately create a better retirement.

“From small pots to lost pensions, retirement planning today can be complex and confusing for many people but leveraging this open finance technology will put the ability to understand and engage with pensions in the palm of savers’ hands.”

Moneyhub CEO, Samantha Seaton, added that Moneyhub are “delighted” to be working with L&G on its pensions dashboard alongside its wider open finance offering.

“Dashboards are so overdue, given auto enrolment commenced over a decade ago with people in the UK now having on average 11 jobs over their working life - which means 11 pension pots to stay on top of,” Seaton continued.

“The way people interact with and understand their pensions will be transformed by dashboards and therefore ensure better financial outcomes for millions of savers.”

However, she warned: “Pensions are only one piece of the financial puzzle - it’s fantastic to be working with such a major provider of pensions savings who recognise the importance of engaging members in a holistic context.”

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