The ABI is managing the creation of a prototype by Spring next year on behalf of HM Treasury. The ultimate goal, for delivery in 2019, is for savers to be able to see all their pension entitlements together online - including their state pension and any defined benefit or defined contribution pensions.
Headed up by the ABI’s Director of Long-term Savings and Protection, Yvonne Braun, the team includes Alastair Horn to direct the delivery of the project with the support initially of two full-time members of staff. Additional technical support will be drawn from within the ABI and from external contributors.
Alastair performed a similar role for the ABI during the creation of Flood Re, a world-first re-insurance scheme developed by the industry and Government to help households in flood risk areas to find affordable home insurance.
Yvonne Braun, the ABI’s Director of Long-term Savings and Protection Policy, said: “Taking the Pensions Dashboard from a concept to a working prototype and then to full roll-out in 2019 is going to take a huge amount of work and depends on successful collaboration across all parts of the sector. Creating a prototype is only the first step but one which will be crucial.
“We are very proud to be delivering this project on behalf of Government and the wider pension sector, and we believe it has the potential to transform long-term savings in the UK for the benefit of consumers. The ABI has an excellent track record of delivering highly complex projects, such as Flood Re, which go on to make a real difference. We are assembling a top notch team, backed up by the ABI’s wider resources, dedicated to delivering on this.”
Alastair Horn said: “I’m delighted to be back supporting the ABI at the start of this major project which has a clear and compelling purpose. There’s already a high level of involvement from leading pension companies, technology companies and Government departments. Bringing together processes, technologies and participants to prove the proposition is at the heart of this prototype phase.”
More than a dozen pension companies have now signed up to the Pensions Dashboard project. They are to be joined later by fintech companies to make sure the project benefits from the latest thinking and innovation.
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