December, 2016 Print
Six financial technology firms have been named as partners for the Pensions Dashboard project, a government-backed initiative which plans to show people all of their pension savings in one place.
The project is being managed by the Association of British Insurers (ABI) on behalf of HM Treasury. A prototype model of the Pensions Dashboard is due to start testing in March next year. Over 60 firms expressed an interest in taking part in the project on a pro bono basis, according to the ABI. It added that after a competitive evaluation process, the following firms have been selected to work on different parts of the project, from the user interface through to verifying identities and sharing data: Runpath, Experian, Origo, Safran, ITM and Aquila Heywood.
ABI director of long-term savings and protection policy, Yvonne Braun, said: “The concept behind the Pensions Dashboard is brilliantly simple – savers should be able to see at a glance what money they are likely to have in their retirement, based on all the pensions they’ve gathered during their working lives. The practicalities of making this happen are, however, very complex and involve securely retrieving and presenting a large amount of personal and financial information for every person of working age in the country.”