The Chartered Institute of Payroll Professionals ……………………………………………………………Policy News Journal
The Treasury also retains governance over the dashboard project’s progress.
ABI director of long-term savings and protection Yvonne Braun says:
“As we have been clear from the beginning, the 17 pension companies involved in the pensions dashboard prototype are contributors. They are contributing time, expertise and the funding needed to make this ambitious project happen.
This is a ground-breaking initiative involving the rapid development of new technologies, requiring professional project management and IT and legal expertise. The ABI’s leadership role is helping keep costs as low as possible.”
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One in five of those with multiple pensions has lost track of their savings 24 January 2017
More than 6.6million people may have misplaced some of their retirement savings according to research by Aegon .
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21% of those with multiple pensions have lost track of one or all of their pensions
39% don’t know the total value of their pensions
• 67% would be interested in moving all their pensions to one provider if there were financial benefits.
Aegon research of 1,004 adults during October 2016 reveals that 62% of people have multiple pensions but more than one in five (21%) of this group has lost track of one or all of their pensions. As a result more than 6.6million people may have misplaced some of their retirement savings. The findings highlight the challenge of a broader trend towards a career involving an average of 11 jobs and the difficulty of keeping tabs on workplace savings. With a majority of people holding multiple pensions, as many as two fifths (39%) did not know the value of their pensions. 1. Use the DWP Pensions tracing service to find your pension by entering your old employer’s name which will generate the current contact address. Simply write to this address, with your current and any previous name, current and previous addresses and your National Insurance number. 2. Some pension schemes won’t have been updated for some time. To get the contact details you will need to fill out an online form with your name , email address and any information you believe is relevant such as the dates you were at the company and your national insurance number. 3. Get a State pension forecast, either in paper format or online 4. And once you’ve tracked down your pensions, get advice before consolidating them to make sure you don’t lose out on any valuable benefits. Aegon recommends that you can get your pension in order with 4 simple steps:
Read more from Aegon .
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Over £9.2 billion released by pension freedoms 31 January 2017
Hundreds of thousands of savers have cashed in £9.2 billion from their pension pots since pension freedoms were introduced in April 2015.
Over 1.5 million payments have been made using pension freedoms, with 162,000 people accessing £1.56 billion flexibly from their pension pots over the last 3 months, according to HMRC figures .
The Economic Secretary to the Treasury, Simon Kirby, said:
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