Legal & General (L&G) has partnered with Open Finance technology provider Moneyhub to launch a pensions dashboard service.

The dashboard will allow L&G pension scheme members to find and view all their pension data in one place. L&G said that this would improve how people plan and prepare for retirement and enhance long-term outcomes for pension savers.

The dashboard will access pensions savings products across each member’s employment history.

People in the UK have 11 jobs on average over their working lives and thanks to auto enrolment, L&G said that this could mean people have 11 pension pots to manage. The company added that the way people interact with and understand their pensions will improve with the dashboard and result in better financial outcomes.

Both L&G and Moneyhub have been working with the UK government on its central Pensions Dashboards Programme (PDP) since the initial test phase and are also founder members of the Dashboard Operators Coalition (DOC), an industry body which aims to promote collaboration between providers, government and regulators in the move towards dashboards.

The dashboard will form a core part of L&G’s digital suite of services, with a formal launch expected following confirmation of the dashboard's available point (DAP) date.

“This partnership is about harnessing the power of technology to deliver positive change, get more people to engage with their savings and ultimately create a better retirement,” said Bernie Hickman, chief executive at Legal & General Retail. “From small pots to lost pensions, retirement planning today can be complex and confusing for many people but leveraging this Open Finance technology will put the ability to understand and engage with pensions in the palm of savers’ hands.”

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