Legal & General (L&G) will roll out its own pensions dashboard.
The firm already has infrastructure in place which allows its clients to view their pension as well as any other products they hold with the company, a spokesperson for L&G told International Adviser.
It will build on its existing platform by incorporating the government’s dashboard as well as other modelling tools, support and personalised guidance.
The spokesperson added: “We strongly believe that the more information members have about their pensions and the easier it is to access this information in one place, the better position they will be in to make decisions about their financial affairs.
“The Pensions Dashboard Programme (PDP) is a welcome game changer for the pensions industry, providing the information members need to make the right choices for a comfortable retirement.
“We need to make sure we continue to look for ways to capture people’s interest, such as moving towards personalised guidance to help to fill the gap between advice and information, enabling consumers to make their own decisions with greater confidence.
“We are committed to playing our part in this and provide additional information and guidance to members on their options, to help complement the work that is already being done.”
News of the launch follows the UK government’s unveiling of staggered deadlines for the adoption of the pensions dashboard, which will see larger schemes connect by September 2024; medium schemes by October 2025; and small and micro schemes from 2026 although these will not be covered by the regulations.