📋 Tender Overview
Nearly 1 in 5 people 19 do not access information about their pensions according to a survey commissioned by the ABI with Populus. The pensions blind spot could lead to people not getting the retirement they hope for.The ways in which people currently interact with their pensions varies across the generations with people using a mix of digital post and phone. The polling comes as the Pensions Schemes Bill makes its way through Committee Stage in the in the House of Lords a key milestone to make Pensions Dashboards a reality.The polling on pensions engagement and how people want to access all their pensions in one place showsDigital is king for convenienceWhen asked about what three ways would be convenient to access your pensions in one place going online comes out on top. But the platform preference varies between generations highlighting the need for multiple dashboards.Asked where they would be comfortable accessing the information about all of their pensions in one place 20 of people would want to access the information through a government service while 49 of people prefer their pension provider.With a demand for digital information multiple pensions dashboards will enable people to see all their pensions in one place through a platform of their choosing and help discover lost pension pots.It is estimated that 1 in 5 adults admit to having lost a pension pot. Research by the Pensions Policy Institute PPI suggests these are worth at least 19.4bn. Without Pensions Dashboards the Department of Work and Pensions estimates that 50 million pensions pots will be lost or dormant by 2050.
