Our report, written by consumer champion Dominic Lindley, emphasises the need for strong consumer protections when dashboards move from a non-commercial version to multiple commercial ventures.
In the wake of the report, which sets out a long-term vision on how pensions dashboards can help people manage their finances more effectively, we’re calling for a package of measures to ensure savers’ interests are put first.
These are:
- A new legal duty, akin to a fiduciary duty, on dashboard operators to prioritise the interests of savers, overseen by The Pensions Regulator
- Giving consumers the legal right to all their financial data, enabling individuals to see a total picture of their finances across pensions, banking, investments, and insurance
- Pensions charges disclosed on the dashboard from day one to ensure full transparency
- The government to create a statutory body to oversee pensions dashboards in the long term, with the power to set standards and a clear statutory remit to act in the best interest of consumers.