Source · Select Committees · Work and Pensions Committee
Recommendation 26
26
Paragraph: 110
When pension dashboards launch it will not be possible to undertake any transactions through them.
Recommendation
When pension dashboards launch it will not be possible to undertake any transactions through them. We understand why some people are calling for transactions to be facilitated through pension dashboards. However, with dashboards a long way from reality and a need to build trust in the system, we recommend that no consideration is given to allowing transactions through dashboards until they are well established.
Paragraph Reference:
110
Government Response
Not Addressed
HM Government
Not Addressed
Individuals wishing to use dashboards will be able to delegate access to MaPS guiders or authorised financial advisers who have the relevant permissions under the Financial Services and Markets Act 2000 to advise on investments or conversion or transfer of pension benefits (under the Financial Service and Markets Act 2000 (Regulated Activities) Order 2001). The MaPS dashboard will also be integrated into the MaPS retirement planning hub all of which will better enable MaPS to tailor guidance interventions according to individual needs and will help savers to see in one place what they have and help facilitate a Pension Wise appointment.