Pensions Dashboard

hyubh

https://forums.moneysavingexpert.com/discussion/comment/82146898#Comment_82146898

I think you may be very busy in your new role of chief administration software consultant for pension schemes up and down the land 😀

WH69

https://forums.moneysavingexpert.com/discussion/comment/82147681#Comment_82147681

I haven’t seen anyone else mention this yet, so from my experience, most of the pension providers i contacted who confirmed i didn’t actually have a pension with them have now removed the match. I was able to register and log in again after my access expired and i only now see 1 pension now that is a partial match.

This partial match have already confirmed i have no pension but have told me to contact MoneyHelper to have it removed, which i believe is wrong as like other providers they should remove it.

And i saw a comment from someone indicating they did not get the link to the £10 voucher for supporting the Beta test, just to confirm i did and was eventually able to convert it to a voucher i could use…though that was a minor trial in itself.

otb666

It does not have option for Pension Dashboard only a list of other things as I am already drawing company pension

StewedApple

https://forums.moneysavingexpert.com/discussion/comment/82147687#Comment_82147687

A summary statement in an industry-standard data format should not be considered a big ask - it's something most financial websites have been providing to customers for about 20 years, and certainly should have been a design requirement.

A simultaneous query to each provider with the data presented on screen would certainly be highly desirable compared to the 45+ separate interactions which I currently undertake (as well as the manual copy of this data) to download the information.

GenX0212

https://forums.moneysavingexpert.com/discussion/comment/82147696#Comment_82147696

No thanks, I’m retired! 😂

SnowMan

https://forums.moneysavingexpert.com/discussion/comment/82147754#Comment_82147754

That's interesting. Sounds like getting possible matches that aren't real matches removed is working then after all. That you've only got one example where the process hasn't worked is pretty good given schemes aren't going to be getting many queries at this stage before the full roll out.

And fair comments above that until 31st October 2026 we can't really judge how good the matching process is.

One interesting thing I've seen is that (private sector) final salary schemes (with over 100 members) will have to show for deferred members a deferred pension amount revalued up to the current date (that is updated each year with actual revaluation from leaving to around now).

A lot of the people I've helped only have a (private sector) deferred benefit statement at leaving (if at all), and if an estimated pension is given at normal pension age on that leaving statement it is based on assumptions that haven't been declared or aren't correct with hindsight. And getting a current revalued figure from their provider often isn't straightforward or takes considerable time. The revaluation itself is quite often more than the amount of the deferred pension at leaving itself. Quite often the only time a revalued figure is calculated is when they actually are about to receive their pension. Often they say I've got this small pension and it turns out it is a final salary deferred pension that is worth more than some of the other DC pensions I'm looking at.

So to have a current revalued deferred pension figure at most about a year out of date (which must be provided within 10 working days if not immediately showing when requested from the dashboard) is a really useful thing for planning purposes. Of course it is still important to get a full understanding of the amount and how bits of it revalue in deferment and payment and what attaching spouses pension there is etc.

While final salary schemes with active (contributing) members outside the public sector are pretty rare these days, I would guess that someone in their mid 50s, finally getting round to planning their retirement, will more often than not have a final salary pension from somewhere. Someone can correct me if they have an accurate figure.

Paul_Herring

It's intended to be simple and give people an idea of their possible
income in retirement from their current pension and possibly prompting
them on 'missing' pensions

Not that useful, if as in my case, it's missing £400K of funds on one of the accounts it is reporting.

molerat

Doesn't show my 2 in payment DBs, one of which is now with an insurer, but shows my SIPP correct to the penny with my in payment SP as "Pending". Quite easy initial access with a Gov One log in but a bit of a faff to go back in. No options for a quick printout.

watervolume

I just get an error when it starts the search for my pensions 😔

Maybe because it's Sunday today?

kipsterno1

I have received a reply from one of the pensions listed as requiring action on my dashboard. Unfortunately it was just a surname and DOB match. There response was indicated that they will arrange updating the dashboard so it no longer shows.

Having sorted that another different pension has dropped in to the list today.