Majority of advisers want dashboard as govt priority

Almost three quarters (71 per cent) of financial advisers want the pensions dashboard to be a government priority in 2020, according to Standard Life research.

It’s quarterly survey of financial advisers found further enhancement to auto-enrolment was the next biggest priority, with the issue cited by two fifths (42 per cent) of respondents despite not appearing in the government’s Pension Schemes Bill.

Greater powers over trustees for The Pensions Regulator and the development of collective defined contribution schemes were picked by 25 per cent and 21 per cent of respondents respectively.

Standard Life head of global savings policy, Jamie Jenkins, said: “Our latest poll of financial advisers confirms the industry is firmly on board with the roll out of pension dashboards, and wants the government to prioritise the timetable and design principles needed to get the project moving in 2020.

“The findings are encouraging as the Pension Schemes Bill reaches the House of Lords, hopefully putting to bed speculation the legislation would be delayed further.”

The bill, which was introduced to the House of Lords on 7 January and had its second reading on 28 January, features a framework to support pension dashboards, including powers to compel pension schemes to provide accurate member data.

Jenkins added that it was unlikely that a “comprehensive dashboard” will be made available this year but commented that “the impact of the technology reaching development stage should not be understated”.

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