Research reveals 'strong interest' in pensions dashboards

Over three-quarters (77 per cent) of people with multiple pension pots think dashboards would be useful to see all their pensions in one place, whilst over a third (38 per cent) expect it to be ‘very useful’, according to research from Aegon.

The survey also found that whilst nearly three-quarters (72 per cent) of those surveyed have never consolidated their pension pots, 50 per cent said that the introduction of a pensions dashboard would prompt them to consolidate their pension savings.

However, there were differences between different age groups, as this figure rose to 67 per cent for those aged 18-34, but was just 32 per cent amongst those aged over 55.

Aegon head of pensions, Kate Smith, commented: “Pensions dashboards are set to transform how and when people engage with their pension savings. We know that retirement saving needs to be as simple and straightforward as possible to boost engagement.

“Our research shows strong interest in dashboards which will show an individual all of their pensions together, online. As we’d expected, the research indicated dashboards are likely to lead to greater consolidation of small pots.

"It’s incredibly positive to see that the pensions dashboards will be useful and will encourage those who haven’t done so to bring together lost or small pension pots.

“We’re expecting to see the government’s response to its recent consultation on the pensions dashboards regulations any day now.

"It’s really important that dashboards remain on track to help give people greater visibility to their pensions and ultimately improving decision-making.”

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