Author: Ruleguard – ruleguard.com
The draft Pension Dashboard Regulations 2022 support the wider regulatory objectives of increasing consumer awareness, and promoting greater understanding of pension information and estimated retirement income.
The proposed changes should result in consumers having better control and ownership of their retirement planning by:
- encouraging better engagement with individuals
- leading to better informed decisions, and
- less opportunity for scams to be successful.
Meanwhile for the pension industry, it requires collaboration between various parties to collate, maintain and share data.
What action is required to fulfil the proposed obligations?