{"id":496,"date":"2016-09-27T10:07:46","date_gmt":"2016-09-27T10:07:46","guid":{"rendered":"http:\/\/www.wealthatwork.co.uk\/jpm\/?p=496"},"modified":"2016-09-27T10:07:46","modified_gmt":"2016-09-27T10:07:46","slug":"pensions-dashboard-comes-with-limitations","status":"publish","type":"post","link":"https:\/\/www2.wealthatwork.co.uk\/jpm\/2016\/09\/27\/pensions-dashboard-comes-with-limitations\/","title":{"rendered":"Pension\u2019s dashboard comes with limitations."},"content":{"rendered":"

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The Treasury has recently announced its plans to build a pensions dashboard prototype which will let savers see all their pension pots in one place by March 2017.<\/p>\n

Jonathan Watts-Lay, Director, WEALTH at work, a leading provider of financial education in the workplace, supported by guidance and advice comments; \u201cAnything which helps people to understand what pension savings they have is a good thing.\u00a0 However, as retirement income is no longer just about pensions but all types of savings, the dashboard clearly has limitations as it only considers pensions.\u201d<\/p>\n

He continues; \u201cSo far a limited number of pension providers have agreed to take part in the development of the dashboard. Therefore, individuals may find that it doesn\u2019t include their provider once it\u2019s rolled out unless the government regulates to ensure all providers, including those pension providers with closed pension books, are included.<\/p>\n

Also, all pension providers have to provide annual statements to members, so whilst getting these statements in one place may be helpful, what individuals really need is guidance on how best to take income from all their retirement savings, and how to do this as tax efficiently as possible.\u201d<\/p>\n

Watts-Lay concludes; \u201cThe dashboard clearly does not get employers and trustees \u2018off the hook\u2019 for putting in place an appropriate retirement service which includes financial education and advice, to help ensure retirees do not make poor decisions or at worse suffer at the hands of a scammer.\u201d<\/p>\n ","protected":false},"excerpt":{"rendered":"

The Treasury has recently announced its plans to build a pensions dashboard prototype which will let savers see all their pension pots in one place by March 2017.<\/p>\n","protected":false},"author":1,"featured_media":499,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,5,7],"tags":[],"_links":{"self":[{"href":"https:\/\/www2.wealthatwork.co.uk\/jpm\/wp-json\/wp\/v2\/posts\/496"}],"collection":[{"href":"https:\/\/www2.wealthatwork.co.uk\/jpm\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.wealthatwork.co.uk\/jpm\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.wealthatwork.co.uk\/jpm\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.wealthatwork.co.uk\/jpm\/wp-json\/wp\/v2\/comments?post=496"}],"version-history":[{"count":1,"href":"https:\/\/www2.wealthatwork.co.uk\/jpm\/wp-json\/wp\/v2\/posts\/496\/revisions"}],"predecessor-version":[{"id":498,"href":"https:\/\/www2.wealthatwork.co.uk\/jpm\/wp-json\/wp\/v2\/posts\/496\/revisions\/498"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.wealthatwork.co.uk\/jpm\/wp-json\/wp\/v2\/media\/499"}],"wp:attachment":[{"href":"https:\/\/www2.wealthatwork.co.uk\/jpm\/wp-json\/wp\/v2\/media?parent=496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.wealthatwork.co.uk\/jpm\/wp-json\/wp\/v2\/categories?post=496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.wealthatwork.co.uk\/jpm\/wp-json\/wp\/v2\/tags?post=496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}