Will pensions dashboards change how we save for retirement?
Held on Thursday, September 21, 2017.
Margaret Snowdon (PASA)
James Ward (Aviva)
Michael Klimes (Professional Pensions)
Mike Teall (PA Consulting).
The DWP estimates that current pensioners have held an average of eleven different jobs in their lifetimes – which means they may have up to eleven different pension pots. Unclaimed savings are substantial, with the Pension Tracing Service hoping to reunite savers with hundreds of millions of pounds.
As the world of work changes, as people switch employers more frequently and as every employer provides auto-enrolment, that issue is only going to grow. So, a pensions dashboard to let you see all of your pots together – and plan accordingly – makes a great deal of sense. It might even combat the problem of fragmentation. And so the UK government and the ABI have pulled together a coalition of the willing to make one happen.
Actually building a dashboard (or dashboards) that can interact with the myriad of different systems, products and actuarial practices in the market is more difficult than it might seem.
We are, therefore, delighted to welcome not one but two members of the Pensions Dashboard Steering Group to discuss the opportunity and challenges ahead:
- Margaret Snowdon is Chair of the Pensions Administration Standards Association (PASA), and an independent NED at the Pensions Regulator, Xafinity plc and the Phoenix Group; and
- James Ward is director of the affluent programme at Aviva, and a former group strategy director for both Aviva and Friends Life.
Of course, we can’t let Margaret and James have everything their own way. Joining us to discuss the issues we are pleased to welcome:
- Michael Klimes, an award-winning journalist and correspondent at Professional Pensions; and
- Mike Teall, retirement expert and pensions lead at PA Consulting (and formerly a head of annuities and of strategy for Scottish Widows).
If you (or a colleague) would like to join the discussion, please call the CSFI on 020 7621 1056 or email firstname.lastname@example.org. Wine, refreshments and sandwiches will be available as usual. Sincerely yours,