A pensions dashboard will show people all their pension pots online, securely and in one place. The dashboard aim is to allow people to access clear and simple information about their multiple pension savings, including their State Pension. It will also help them to find any pension pots that have been lost.
Most people have worked in multiple workplaces throughout their lifetime, this has become more widespread since the mandatory introduction of pension enrolment. The average number of pensions someone will have when they retire is 11 and therefore keeping track of these is currently a manual task and because of this many people do not know how much their pension pot is worth. Understanding your pension pot is the basis of being able to plan your retirement.
“Over three quarters (77%) of those surveyed said it will be useful to see all pension pots in one place online” Aegon UK by Opinium study
The date has moved a few times already due to the complexity of collating this information from multiple pension funds. The aim is to get this ready by 2023, even if it just covers the main providers, obviously this would mean that not everyone's dashboard would be complete.
In the meantime you can manually create one by using our template - see resources.
It will give you a pension snapshot of your total pension pot. This will save you time, by placing all the information in one view you will not have to manual do this yourself.
There are a number of services where you can transfer all your pensions (excluding your state pension) into one combined pot, which is then managed by one provider. This allows you to not only see your pensions in one place but also to manage them there. This is not the same as the dashboard which shows multiple pots with different providers, which may have different investment options and fees.
Auto-enrolment for a company pension
SIPPS in detail
Self invested pension providers (SIPPS) guide from Money helper
Best rated SIPP providers
Find your pensions - Government
If you can not find an old pension the Government offers a service to find it.
Find your pension app
If you know some details about your pension this app will try and find your pensions.
Pension & Lifetime Savings Association - guidelines on retirement
Life expectancy Calculator
Understanding how long you will live will help you decide how much money you will need to retire on.