Pensions dashboard petition edges closer to 87,000 signatures

Pensions dashboard petition edges closer to 87,000 signatures

Support for the pensions dashboard is growing, with almost 87,000 signatures already gathered in protest against work and pensions secretary Esther McVey’s reported decision to scrap the project.

The petition was launched a week ago in response to reports that McVey wants the private sector to take over the creation of the pensions dashboard, a system that would allow savers to view all of their pension savings, including the state pension, in a single online portal.

Arguing that “millions of pension pots are at risk of being lost” if savers are not provided with an online portal to track their pensions throughout their careers, the petition has so far received 86,826 signatures.

Andy Tarrant, head of policy at The People’s Pension, said in response to the report that the pensions dashboard might be scrapped: “At a time when 14 million people are at risk of not having enough to live on when they retire, it’s astonishing that an initiative aimed at helping millions of people to live comfortably in retirement, could be seen as a distraction by government.”

Huw Evans, director general of the Association of British Insurers, which in the past project managed the successful creation of a prototype pensions dashboard on behalf of the Treasury, said: “It is vital the government stands by its promises on the pension dashboard. To abandon it would be a huge let down to millions of savers, leaving them unable to find the money they have saved and even exposing them to fraud.”

“This is an initiative with cross-party support, backed by consumer groups, which is a win-win for everyone. The pensions industry is committed to helping but we need government involvement to ensure the system works fairly for everyone.”

Categories: News, UK Pensions

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