Gov't Warns Pensions Schemes To Be Ready For Online Portal

Law360, London (June 22, 2020, 3:42 PM BST) -- A government minister warned pensions schemes on Monday to start preparing customer data before the launch of an online "dashboard" that will link savers with lost and forgotten retirement pots.

Pensions Minister Guy Opperman said the industry should be ready for the reforms, which will be ushered in with the Pension Schemes Bill that is working its way through Parliament.

The bill provides a legal framework for the online project and includes new powers that will compel pension companies to provide data on their clients for the dashboard. 

"I would encourage schemes to be on the front foot and to get data...

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