The government intends to publish in the summer the final staging timetable.

What will it mean for financial advisers and planners?

Pensions dashboards will, of course, be of practical help to financial advisers and planners. 

It is anticipated consumers will be able to give their financial advisers permission to access their pensions dashboard information. They can then form a picture of all the pension provision their clients have built up, without raking through old shoe boxes of past statements and terms and conditions.

Some advisers may decide to become a QPDS. And pensions dashboards may trigger new client requests as well.

Once people have a view of all their pension wealth, they may seek regulated advice to help them make better decisions about how to consolidate these pensions or to convert them into an income to meet their personal circumstances. 

The government has committed much resource – including legislation time – to ensuring pensions dashboards are a success and is certainly relying on them to inspire engagement among those saving for later life.

Depending on the final details, pensions dashboards could be a game-changer for how people view their pensions.

Rachel Vahey is head of policy development at AJ Bell