Following this announcement, the dashboard is expected to form a core part of Legal & General's digital suite of services, with a formal launch being set to take place following the Dashboards Available Point (DAP) date.
Legal & General ('L&G') has also appointed Moneyhub, the fintech and Open Finance firm, as its Qualifying Pensions Dashboard Service technology provider. This will help companies and customers shift the dial on how people plan and prepare for retirement in a safer and more efficient way.
Throughout this collaboration, the two financial institutions will focus on a new Pensions Dashboard, which will allow L&G pension scheme members to find and view all their personal data in one place. At the same time, the partnership will also harness optimised edge technology to develop a dashboard that will capture pension savings products and services across each member’s employment history as soon as the Regulator permits it.
The move also marks an important step in both L&G's and Moneyhub's strategy to support the launch of secure, effective, and comprehensive pensions dashboards to customers and partners as early as possible. In addition, both financial institutions have been collaborating with the UK Government on its central Pensions Dashboards Programme (PDP) since the Alpha test phase, while also being founder members of the Dashboard Operators Coalition (DOC). This initiative represents an industry body that aims to promote collaboration between providers, government, and regulators in the move towards dashboards.
Furthermore, the dashboard will also form a core part of L&G's digital suite of services, with a formal launch being expected to take place following the confirmation of the DAP. At the same time, the solution is set to complement L&G's broader digital pensions ecosystem, including the firm's new mobile application that leverages Moneyhub's Open Finance technology, which is in the final stages of development and expected to launch soon.
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