In July 2022, the Pension Dashboards Programme launched a call for input on the design standards which Qualifying Pensions Dashboard Services must comply with when presenting pensions information to the user.
These design standards will provide information to dashboard providers, as well as data providers, about required layouts, content elements, messaging and user journeys, with the aim of creating a positive experience for all users across all dashboards.
We welcome the introduction of Pensions Dashboards and believe the programme presents an opportunity to better enable individuals to align their investments with desired social and environmental outcomes, thereby benefitting people and the planet as well as delivering a healthy pension in retirement.
To ensure the dashboard achieves its stated aim of helping users engage in retirement planning, obtain advice or guidance and make informed decisions, we submitted a number of recommendations centred around four key areas:
- Financial literacy and the inclusion of information on how an individual can invest their pension in line with their values as well as broader information on how pension schemes work.
- Data accessibility so users are able to access information on pension funds’ investments in individual companies and their engagement with their investees and partners.
- Investor engagement and selection, with a recommendation that dashboards consider the inclusion of functionality to allow pension holders to vote at investee company AGMs and review, and transfer, from different funds within the scheme.
- As standards develop, impact certification and the incorporation of high-quality information on the sustainability of investment funds.
You can read our full response below.