Digital pensions – a beacon in the sky
Finally, proceed with care as the pace of pension reform from DWP, The Pensions Regulator and FCA already hardly gives advisers time to catch their breath. Be pragmatic not dogmatic.
But the government’s over-arching pension priority must be to encourage lifelong financial security for households and the nation at large.
One bright spot in the firmament is the long overdue pension dashboard set to be up and running next year, which could demolish the mountain of millions of lost pension pots. But launch it with a ‘Big Bang’ and not a whimper.
Then, at least the government’s own pension dashboard URL may become as renown as the NHS 999 or 111.
Make it a 'blue riband' service, whether it is the government model or from the private sector with best-in-class tech, so that the rest of the world will be fighting to buy our technology and pensions know-how.
Its arrival could be the catalyst for the UK retirement provision sector to top the ‘World Premier Pensions League’ zooming up from its now dismal 11th place. I live in hope.
Stephanie Hawthorne is a freelance journalist and former editor of Pensions World
