Topic: Retirement saving

Nearly nine in 10 of UK adults believe that without financial education, we will all be poorer in the future, as People’s Pension enhances app experience for its 7 million members

People’s Pension integrates financial wellbeing platform nudge into member app to help tackle financial education gap

New research has revealed how the majority of adults think that without financial education, we will all be poorer in the future, and we are failing future generations if we don’t equip them with financial literacy.

The YouGov survey1, commissioned by People’s Pension2, which serves more than 7 million members, reveals a strong public desire for better financial education:

  • 85% of adults believe that without financial education, we will all be poorer in the future.
  • 91% of adults say we are failing future generations if we don’t equip them with financial literacy, and the same proportion also agree financial education should prioritise long-term planning, not just short-term needs.
  • 88% believe pensions should be taught in schools.
  • 80% wish they had received financial education themselves at school, and 74% are worried about the financial future of children in the UK. There’s even support for re-prioritising the school curriculum, with 74% agreeing that financial education should take precedence over some existing subjects.
  • Alarmingly, 21% have never heard the term “financial education” – particularly among women (24%), older adults (55+: 31%), and C2DE groups (29%)3 .

The publication of the research comes as People’s Pension announces a significant update to its member app4, integrating financial wellbeing platform, nudge5, which they believe will help tackle the UK’s financial education gap.

The integration gives People’s Pension’s members seamless access to personalised well-being resources, including budgeting calculators, planning tools, and tailored content aligned to life stage and goals. Features include Single Sign-On (SSO) for a smoother, more secure login experience and an enhanced user interface (UI) designed to make financial journeys simpler and more intuitive.

David Meliveo, Chief Commercial Officer at People’s Partnership, said:

“This new research highlights an urgent need and desire for accessible financial education and support in the UK. It’s very clear to me that the British public feels let down in this area, meaning it’s vital that organisations like ours step up and fill that gap.

“We’re thrilled to announce the integration of nudge into mobile app – a game changer for financial well-being, with proven impact – 94% of nudge users feel confident managing their money, compared to just 78% of non-users6. By bringing this tool to our seven million members, we’re closing the financial knowledge gap and empowering people to make smarter, more informed decisions about their financial future.”

Tim Perkins, CEO and Co-Founder, nudge, said:

“Our mission at nudge is to make financial education accessible, practical, and engaging for everyone. The new app integration, combined with an enhanced user experience, will help deliver on that promise to the members of People’s Pension.”

Savers turn to Facebook groups as retirement decisions continue to confuse

Latest research reveals reality doesn’t match policymakers’ clean vision for pensions and retirement

Ten years after Pension Freedoms1 promised greater choice for savers, new research from People’s Pension2 reveals people approaching retirement are turning to Facebook groups to help understand their retirement options and make decisions about their pension savings, despite knowing the information they find online may not always be correct.

People’s Pension has published the latest findings of its unique longitudinal study New Choices, Big Decisions3, which has examined the retirement saving and spending habits of a selected group of older savers since the reforms were introduced in 2015. A decade on, many are still sleepwalking into retirement – unsure how to turn a pot into a pension and focused mainly on taking their full tax-free cash lump sum.

Facebook groups step in where providers fall short

Despite many attempts to improve engagement through planning tools, nudges, and guidance services, savers continue to find the pensions confusing and generic information hard to apply to their situation. Many lack confidence picking a retirement product and turn to Facebook retirement groups for help, finding them easier to navigate than official websites or guidance services.

While pension providers continue to offer more information on retirement planning, the research finds that communications often arrive at the wrong time or in the wrong tone, with little evidence they change behaviour. As a result, savers continue to make short term, convenience-led choices, rather than planning for sustainable lifetime income.

Tax-free cash rarely part of long-term thinking

The study finds that most people are continuing to take the full 25% tax-free lump sum, often while still working and when they have significant amounts of cash available in other savings. Rather than treating this as part of a long-term retirement plan, most people treat this as additional disposable income and quickly spend it on home improvements, gifts, or paying off debt, with any money left often moved into a low-interest cash savings account. Few realise that taking the money early can reduce their future retirement income or that it can be taken gradually over time.

Guided retirement critical to fixing messy retirement journeys

Since the first edition of its study in 2015, People’s Pension has called for the introduction of default decumulation products to help improve retirement outcomes. The ongoing challenges reinforces the need for guided retirement solutions to be offered to savers as an option, soon to be introduced through the Pension Schemes Bill4.

The study explores how these solutions could work in practice, testing features showing that with opt-outs work better than opt-ins, age 75 is the optimal age to introduce longevity insurance, and flexibility around early-retirement withdrawals is essential.

Negative perceptions of annuities remain entrenched, driven by worries about dying too soon to get payback from savings and wanting to leave money to families. Addressing these attitudes will be critical to the success of new guided products.

Kirsty Ross, Director of Proposition at People’s Pension, said:

“This research shines a light on just how difficult it still is for the average saver to make sense of retirement saving after ten years of pension freedoms. Savers are still faced with too much complexity and the wrong kind of support, so it’s no surprise that many are turning to social media for help instead of professional sources. The system isn’t giving people the clarity or confidence they need to make decisions that will shape the rest of their lives.

“The reality is that the nice, clean vision for retirement of policymakers and pension providers rarely plays out smoothly in practice. Real-life retirement journeys are far more complex and, as our study clearly shows, people need simpler but better targeted support, underpinned by strong default pathways. Providers and policymakers must now work together to ensure new guided retirement solutions offer the flexibility, simplicity and inclusivity that savers need. These products must be backed by clear, well-timed communications that truly connect with savers and help them feel confident about their pensions throughout retirement.”

“The vast majority of savers don’t want to become pension experts; they just want straightforward options that help them turn their savings into a steady income. Guided retirement solutions have the potential to deliver that simplicity and security. The next step is to make sure these products are designed around people’s real needs, with clear communication and practical guidance that helps every saver make the most of their pension.”

A crackers idea? People’s Pension rewrites rules of pensions engagement with festive event at Victoria Station

People’s Pension1 spread a little festive cheer at Victoria Station this weekend with a Christmas cracker giveaway designed to get more people talking about their pensions.

With the help of two life-size model reindeer, the workplace pension provider handed out more than 3,500 crackers that were specially designed to spark pension conversations. As well as chocolate coins and pension-themed Christmas jokes2, each contained a message about the value of saving for our futures.

Passers-by were invited to pull a cracker with the People’s Pension team, with a donation from each going to its Charity of the Year, St Catherine’s Hospice3 in Crawley, which provides vital care and support across Sussex and Surrey.

The festive event was part of an innovative public engagement campaign by People’s Pension called the #PensionDrop4, which aims to rewrite the traditional rules of pension engagement by finding new ways to ‘drop’ helpful pension facts, tips and nudges into people’s everyday lives.

Molly Handley, Brand Lead at People’s Pension, said:

“We know not everyone loves talking about pensions like we do – and that it can be hard to find time to think about our futures when we’re so busy today. That’s why the #PensionDrop is experimenting with different ways to have this important conversation.

“By meeting people where they are, whether that’s on their travels through Victoria Station, or through the social media influencers they follow, we hope to encourage more people to think about their pension. Saving a little and often towards our retirement is the best gift we can give to our future selves, which is the message we were spreading at Victoria Station, alongside a lot of festive cheer.”

Research4 from People’s Pension found that nearly half (47%) of Gen Zs are not engaged with their pension, while 12% believe there’s no point engaging at all because they don’t think they’ll ever be able to retire. Its research also uncovered the types of messages that resonate most with younger savers. For example, 70% are motivated to act knowing that starting to save in their 20s could double their pension pot compared with starting in their 30s.

In response, the #PensionDrop campaign has also been experimenting with dropping pensions facts like this one into partnerships with celebrities and social media influencers who post about a whole range of topics, such as comedian and TV presenter Iain Stirling, manifesting expert Roxie Nafousi, parenting influencer Warren Hoyte and lifestyle creator Beth Fuller:

‘With a workplace pension, every 80p you put in turns into at least £1.60. It’s a bit like free money from your boss and the government.’

Kirsty Ross, Proposition Director at People’s Pension, said:

“Traditional pensions messaging can put people off, as our research has shown, so it’s time to try something new. Putting pensions tips into crackers might seem a crackers idea, but it’s all part of an important mission to change the way our industry engages with savers.

“By replacing jargon and scare tactics with simple, upbeat messages, we’re showing that saving for the future doesn’t have to be complicated, and that even small steps now can make a big difference later.”

People’s Pension launches new regular planning tool for members

Part of ongoing enhancements to help members make confident retirement choices

The UK’s largest commercial master trust1, People’s Pension2, has launched a new regular income planning tool to support its in-scheme drawdown proposition. 
 
With more People’s Pension savers approaching retirement3 and an increasing need to provide greater support for people in retirement, the launch is the latest in a series of planned proposition enhancements designed to help its seven million members manage their pension savings more sustainably in retirement. The feature is another step towards a fully guided retirement experience, which the provider is developing in response to the evolving needs of its members.  

From today, eligible members who want to set up a regular income can use the planning tool to understand what level of income their savings can support. The new tool, integrated into members’ online accounts, allows them to choose either an income value or a target duration for their income, with projections based on modelling from Hymans Robertson. 

Through a new nine step and 15-minute end to end intuitive journey, members can understand, plan, consolidate and set up their regular income. They can choose to have their income adjusted for inflation, with annual reviews against CPI helping their payments keep pace with rising costs. To promote sustainable withdrawals, the tool will show an updated view of how long income is expected to last each time a user logs into their online account and will issue alerts as pots diminish.

It remains available for members to revisit and adjust as their circumstances change. In addition, eligible members will be able to seek help over the telephone from the People’s Pension team as part of its new retirement guidance service. 

Kirsty Ross, Proposition Director at People’s Partnership, provider of People’s Pension, said:

“As more savers move from building up their pensions to drawing them down, they need tools that make the transition easier. Our new tool supports members in that that shift, offering flexibility backed by clear information and modelling.

“Retirement isn’t a single moment – it’s a series of choices that evolve over time. We’ve designed this tool to help members manage those choices with confidence, giving them a clear view of how long their income could last and the flexibility to adjust as their circumstances change. This latest development is about giving members practical support that fits the way real retirements unfold.”

Stuart Reid, Distribution Director, said:

“Our employer customers are increasingly aware of the duty of care they have; to support staff beyond the workplace and into retirement. Financial wellbeing doesn’t stop at the point of leaving work, and helping employees make confident, sustainable decisions about their pension income is an essential part of that responsibility.

“What we have announced today helps employers feel confident that their employees are better prepared for life after work. It’s another step in strengthening the link between good workplace benefits provision and long-term financial security.”

Paul Waters, Partner, Head of DC Markets, Hymans Robertson, said:

“As the DC-only generation come to take their pension in ever greater numbers, there is a clear need for comprehensive support and guidance from providers.  Financial advice will not be practical for some. However, with the right guidance and tooling, as the People’s Pension are delivering here, it can make a daunting moment far easier and help members maximise their income while spending sustainably.

“We are pleased to be supporting People’s Pension via our Guided Outcomes® APIs to deliver a better retirement for their seven million members.”

The tool complements a wider set of resources designed by People’s Pension to help members make informed choices about their retirement savings, including the Pension Consolidation Calculator and Pension Finder service.

Budget 25: Response to salary sacrifice cap

In the Autumn Budget today (November 26) The Chancellor to the Exchequer, Rachel Reeves announced that salary sacrifice on pensions will be capped at £2,000 from 2029, so that contributions above this threshold are eligible for National Insurance contributions.

Responding to this change, Patrick Heath-Lay, Chief Executive Officer of People’s Partnership, provider of People’s Pension to seven million savers, said: “Like many, we had hoped salary sacrifice would not be touched in the Budget: this will have a significant impact on some savers and on business.

“However, even with salary sacrifice capped at £2,000 from 2029, pensions remain strongly tax advantaged. Tax relief on pension contributions added £70.8bn to saver’s pension pots last year. Restricting salary sacrifice will make the pensions tax regime less generous but the tax raised will be a small portion of available tax breaks: likely to be less than 5% of total tax relief in 2029.

“We would urge pension savers not to mistake this change for a fundamental overhaul of the pension tax system: these changes should not dent confidence in pension saving.”

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People’s Pension Reshapes £6bn Pre-Retirement Fund to Further Enhance Member Outcomes

People’s Pension1 today announced significant strategic changes to the £6bn invested in the pre-retirement portion of its default fund, which invests on behalf of nearly 1.7 million of its members who are approaching retirement.

These changes are designed to deliver better long-term outcomes for its older members by improving real returns while continuing to manage drawdown risk carefully.

As part of the reshaping of the strategy, the fund’s fixed income allocation has been significantly restructured. The holding in cash has been reduced, reflecting the declining competitiveness of cash as a long-term strategic asset as interest rates fall. With People’s Pension now using segregated mandates2, a cash buffer is also no longer essential.

The pre-retirement fund has also reduced its exposure to sovereign bonds, such as gilts and treasuries. Recent fiscal concerns have led to heightened volatility in term premiums, resulting in lower risk-adjusted returns from these instruments.

This means the pre-retirement fund will now be anchored around a global portfolio of high-quality, short-dated corporate bonds, actively managed by Invesco3. This portfolio spans investment-grade corporate bonds across the US, Europe, and the UK, as well as selective exposure to US and European high yield. Invesco’s fixed income teams in London, New York, and Atlanta will manage the mandates.

The shorter duration of the corporate bonds that have been selected manages risk and gives the possibility of redeploying maturing assets into higher spread environments should that occur. The global nature of the holdings is important to ensure sufficient diversification and liquidity which is not available in the sterling market alone.

The Investment Management Agreement (IMA) for the partnership between Invesco3 and People’s Pension embeds robust responsible investment expectations – from RI policy alignment to bespoke engagement. The increase in allocation to Invesco-managed bonds therefore means a greater proportion of the pre-retirement fund is now covered by the Scheme’s climate targets, exclusions policy, ESG reporting requirements and other RI objectives.

Active management in fixed income offers distinct advantages over passive approaches, particularly given inefficiencies in index construction and the structure of bond markets. Invesco’s expertise in primary market activity and credit selection is expected to add meaningful value for members.

The equity portion of the pre-retirement fund will continue to be passively managed by Amundi and listed infrastructure by State Street.

The strategy design was informed by People’s Pension’s unique proprietary dataset4, which includes insights from hundreds of thousands of member interactions in the lead-up to retirement representing a range of real-life member outcomes from cash out to ongoing drawdown. Development work continues on future retirement drawdown products for older savers.

Utilising the People’s Pension’s operational setup including segregated mandates at Northern Trust and an experienced in-house operations team these changes were implemented promptly and with a very high level of cost efficiency.

Dan Mikulskis, Chief Investment Officer at People’s Partnership, commented:

“These changes reflect both our asset ownership model which constantly evolves our investment strategy in line with market realities and member needs and the power of our partnership with Invesco. By focusing on high-quality corporate credit, we aim to deliver better real returns while managing risk responsibly.”

Chris Fagan, Chair of the Investment Committee for People’s Pension, said:

“Our driving focus is always to improve outcomes for our members. These changes are grounded in deep analysis and clearly defined investment beliefs, and we firmly believe they will help us to continue to deliver more stable and rewarding retirement journeys for millions of savers.”

Tony Wong, Senior Managing Director & Co-Head of Investments at Invesco, said:

“Invesco is delighted to have supported People’s Pension in the restructuring of its pre-retirement proposition and to play a bigger role through our active credit funds in creating positive outcomes for members at this critical stage in the retirement journey.”

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New research highlights barriers to pension consolidation as People’s Pension unveils digital Pension Finder

The UK’s largest commercial master trust, People’s Pension1 has launched a new free-to-use Pension Finder2 service for its seven million members. This comes as new research shows that many savers still struggle to trace or combine their pension pots. 

The YouGov study3, commissioned by People’s Pension, found that while one in five pension savers (20%) have lost track of a pension, only 6% of all pension savers say they have used a free service to find one. Latest figures estimate there were 3.3 million lost pension pots in the UK, believed to be worth up to £31.1 billion4. 

With almost half (49%) of savers saying that transferring pensions is scary and 17% of those who have previously combined pensions saying it is nearly impossible to find all the information needed to transfer a pension, the new tool will allow members of People’s Pension to search using the name of a previous employer or provider. This removes the need to find policy numbers or contact past schemes – a key reason members drop out of the transfer process. 

Developed in partnership with Pension Lab5, the service automates the retrieval of policy details and brings together fund and charge data so members can compare pensions and understand potential long-term outcomes. It sits within members’ online accounts and integrates seamlessly with existing transfer tools6. Crucially, the new tool includes a deliberate pause before any transfer takes place, giving members time to review all the information, consider guidance and make an informed choice. 

With 53% admitting they don’t really understand how pension transfers work, and 89% agreeing that more should be done to protect people from transferring into pensions that might leave them worse off, Pension Finder is designed to remove unwanted friction, allowing members to consolidate pensions easily, in their own time.  

The launch builds on the scheme’s wider programme to improve the transfer journey, following the introduction of the Pension Consolidation Calculator7 and Pension Overview webpage8.  

Kirsty Ross, Director of Proposition for People’s Pension, said:

“Our research shows that people want the simplicity and ease of keeping their pensions in one place, but too often they find the process too complicated and not transparent enough. Our Pension Finder removes that administrative burden, giving members time and space to think carefully before transferring.  

“We’ve designed it to reflect how people really behave – providing them support at the right time, rather than pushing a transfer before they feel fully prepared or ready. It’s about empowering members to make choices based on clear information, not assumptions. For us, this isn’t just a digital upgrade; it’s another step towards a more transparent, supportive pensions experience that genuinely helps people make the right long-term decisions for their future.” 

Scott Phillips, CEO and founder of Pension Lab, added: 

“Our partnership with People’s Pension brings advanced technology and responsible innovation together to tackle one of the biggest barriers to better retirement outcomes – lost or hard-to-find pensions. By embedding our pension-finding and transfer technology directly within the member experience, we’re making it easier for savers to locate their money, understand their options, and complete transfers safely and confidently. It’s a real step forward in helping savers take control of their pensions and make better long-term decisions.” 

David Meliveo, Chief Commercial Officer for People’s Pension, said:

“I’m incredibly excited about the launch of our Pension Finder tool, which will help our members find all their pension pots and give them a better understanding of whether or not they are on track for the retirement they had hoped for.  

“This innovation is the latest that we have launched, and we have many more in the pipeline, which underlines the huge changes in our business over the last two years. It also reinforces our continued commitment to delivering even more value for our existing 100,000 plus employers and allows us to show our intermediary partners how we have repositioned from an auto-enrolment provider into becoming a leading workplace pension provider.” 

New research confirms ‘Value for Money’ metrics can improve pension decisions

New groundbreaking research from People’s Pension1 and the Behavioural Insights Team (BIT)2 provides compelling evidence that ‘Value for Money’ (VfM) metrics can help consumers more effectively compare different pension products.      

Previous research has found that most consumers struggle to effectively identify higher value pension options.3 This new study, published today,4 which involved more than 5,000 UK pension savers, tested whether VfM metrics, similar to the Financial Conduct Authority’s (FCA) proposed industry-facing metrics, helped or hindered consumers when they were asked to compare different pension products.  
 
The research shows simple metrics5 can help consumers better identify higher-value pension products when compared to a factsheet, the current status quo offered by pension providers. 
 
The study consisted of an online randomised controlled trial where pension savers were randomly assigned to view one of four distinct VfM metric designs or a factsheet, which served as the control group. They were asked to shortlist three pensions from eight unbranded options and received a higher score for shortlisting better value pension options. 

The research finds that VfM metrics significantly affect consumer decision-making, with different designs causing participants to focus on different aspects of pensions in their decision-making.  

​​​The study highlights that there is a “sweet spot” in simplification: too much detail can overwhelm, while too little can reduce trust​ and worsen decision making​. For example, consumers were better able to identify higher quality pensions when they were shown a 5-point RAG rating compared to a 3-point RAG rating. 

People’s Pension has previously highlighted that the introduction of pensions dashboards will help consumers track their pensions, however, its research has shown how vulnerable people are in the decision-making process when transferring pensions, meaning the need for easy-to-understand metrics about the value of a product is vital.  

The most recent findings follow previous research6 from People’s Pension and BIT, showing that cash incentives can result in consumers switching their pension to a poorer value option, ignoring the fine print and key information. This new research aimed to examine how consumers can be supported with better value for money metrics when it comes to their pension.      

The study comes ahead of an FCA consultation into VfM metrics, which previously focused on professional users only and where a further consultation is anticipated later in the year. People’s Pension has long called for greater transparency and comparability across the pensions market to improve consumers’ ability to choose, including a consumer version of VfM metrics to be on private-sector pensions dashboards. 

Patrick Heath-Lay, CEO, People’s Pension, said:

“Research tells us that people make decisions about transferring their pension very quickly, often in less than 24 hours. Too often they don’t have the information they need to make a good, comparable decision, and they end up losing out. 

“This latest study from BIT shows that Value for Money metrics, designed for consumer use, is an idea with legs and is something that could ultimately lead to better outcomes for pension savers. Boiling down the most important indicators of the value a pension scheme offers into a metric is more effective in communicating that value than a factsheet. Regulators should make the professional-facing value for money metrics, currently in development, also suitable for consumer use. It’s vital that consumers are easily able to compare the value offered by other pension schemes in a transparent and consistent way, particularly in advance of commercial dashboards being available.” 

Sujatha Krishnan-Barman, Head of Consumers and Business Markets at BIT, said:

“A well-designed Value for Money metric can help people make the right choices for their pensions. Testing and validating these metrics in the real-world is the only way to fully understand how they will affect consumer decisions. It’s important that the industry and regulators consider how they can be developed to make them consistent, comparable, and ultimately in the best interests of consumers.” 

Pension transfers’ risk increases by half a billion pounds in just 18 months

Projected losses from poorly informed pension transfer decisions have increased by half a billion pounds in just 18 months, according to new analysis from People’s Pension1. 

The UK’s biggest commercial master trust has released the latest edition of its Pension Transfer Outcomes Index2, revealing that pension savers could be losing £1.7bn from their pension pots due to poorly informed transfers made in the year to 30 June 2025 – a 42% increase from the £1.2bn at risk from decisions made in 2023.

The Index, which models the financial impact of transferring pensions into higher-charging schemes, shows that this risk has surged by 120% since 2023. As transfer activity continues to rise, the associated risk is growing at an average rate of 22% per year. Based on current trends, the pension provider now forecasts that uninformed transfers will become a multi-billion-pound problem by 2027 – significantly earlier than its previous estimate of the end of the decade4.

Previous research shows pension savers often make pension transfer decisions without fully grasping the financial consequences5. With many struggling to find the basic information they need to accurately compare schemes, new research from People’s Pension6 has found nearly all pension savers (96%) think pension providers should be required to tell people about the impact of the charges they will pay if they transfer a pension to a new provider.

The research also reveals that half of pension savers (53%) don’t really understand how transfers work and a fifth (20%) think they are a gamble. Pension savers lack confidence to make transfer decisions unsupported, with two thirds (65%) saying they need the help of a professional to consolidate a pension.

People’s Pension continues to call for greater collaboration from the pensions industry to enable people to compare their pensions based on the information that matters most. Its five-point-plan7 includes calls to ban transfer incentives and industry collaboration to create a consumer-facing ‘value for money’ framework, which must be clearly displayed on any future commercial pension dashboards.

Patrick Heath-Lay, CEO, People’s Pension, said:

“It’s alarming to see such a rapid escalation of the pension transfers problem, which is fast becoming a crisis, especially when you consider the significant impact on people’s retirement savings. Savers risk ending up with thousands of pounds less and working for years more. And with massive rises in transfer volumes expected when pensions dashboards come into effect, it is essential that the industry acts now to address this issue.

“Pension savers must be able to easily access and compare all the information they need to make informed, educated transfer decisions. It is therefore vital that simple, easy-to-understand comparisons of value are on commercial pensions dashboards when they launch.

“With the Governments pension review focusing on value only in the workplace pension market and a new commission looking at adequacy of saving, it is appalling to see the amount of value being needlessly lost due to the vulnerability of consumers. More onus must be put on providers to flag to members when they are transferring to higher charging schemes to ensure members understand the long term implications. With so many people under pensioned it is unacceptable for savers to be losing out by making uniformed decisions like this.”

To help pension savers understand the long-term impact of charges and assess the effects of transferring pensions on their retirement savings, it recently launched a Pension Consolidation Calculator8. The tool allows pension savers to compare charges across different pensions, see long-term savings projections and understand how small percentage differences in charges can have a large difference on the value of their pension pot at retirement.

People’s Pension completes pensions dashboards connection

People’s Pension1, the largest commercial master trust in the UK, has today announced its successful direct connection to the pensions dashboards ecosystem. 

The Pensions Dashboards Programme (PDP)2, facilitated by the Money and Pensions Service3 (MaPS), is a UK government initiative aimed at improving planning for retirement and growing financial wellbeing by enabling individuals to easily and securely access all their pension information in one place, including State, workplace, and personal pensions. 

The connection will enable pension data to be available through the Government-backed MoneyHelper4 dashboard and in the future through private sector dashboards. Individuals will be able to see the total value of their pension savings and an estimate of what pension income they might receive at retirement, alongside details of who is managing their pension and where to go to find more information. 

Nigel Rodgers, Chief Information Officer of People’s Partnership, provider of People’s Pension said:

“Connection to the dashboards ecosystem is an important step in modernising pensions technology in the UK, which should help enhance data quality and data management processes across the sector. We’ve been working closely with the Money and Pensions Service to ensure we’re connected as early as possible.” 

Patrick Heath-Lay, Chief Executive Officer of People’s Partnership, provider of People’s Pension added:

“This milestone reflects a major collaborative effort between industry, regulators, and government. We fully support the increased transparency that pensions dashboards will provide UK savers in the future. 

“As dashboards become the main way many people engage with their retirement savings, particularly when making decisions about drawing income, it is vital that pensions dashboards remain tightly regulated.” 

Mark Condron, Chair of The People’s Pension Trustee Limited, said:

“This is a very significant moment for the Scheme, because it is a crucial next step in the evolution of both this master trust and the wider workplace pension industry. It has been great to witness, up close, the teamwork that has gone into making this project a success and is something that will benefit our seven million members.”

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