Pensions Dashboard

otb666

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

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So to have a current revalued deferred pension figure at most about a year out of date (which must be provided within 10 working days if not immediately showing when requested from the dashboard) is a really useful thing for planning purposes.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.

QrizB

I've just signed up to use the dashboard.

There was a delay of about an hour and a half between my expressing an interest and then receiving an email from Moneyhelper with a secure link to activate my account I don't know if this is new, or whether it's just that no-one has mentioned it before!

It then took ten minutes or so to setup my One Login using my Android phone and my passport. Fairly painless.

The dashboard has the four pensions I know about, and no surprises.

Itsme01x

Just signed up now (19:00hrs) - started at MoneyHelper on my PC. Needed to set up Gov.UK One Login account. Moved across through simple QR code scan from PC on my Android mobile - to mobile for ID verification. Used my Driving License for verification as that was to hand.

All verification codes (6 digits) from various parts through the process arrived to my email or mobile in about 2 minutes often less - 10 to 15 seconds.

Listed all my known penisons x4. Confirmed my State Pension (one of pensions) is up to date and I have reached maximum NI payments and therefore full pension is due.

One DB provider showing and asked to contact to verify with them to enable information on the Dashboard. Gave contact details of the provider including specific email address and Ref Number to use.

Dashboard sums of other pensions - not completlely up to date, but not too far off.

Formtting and layout very user friendly - imo

GenX0212

Just revisited mine and my Deferred DB pension is now showing a value however it is highly misleading:

Note the commentary that states ‘the values at retirement are the same as if you could take your pension now’

To me this implies I can take £20k a year right now (a conveniently round figure) which is absolutely incorrect, a recent quotation for taking my pension now was £13-14k.

I can see this causing a lot of trouble….