Businesses that contribute to the pensions dashboard project will have to pay £50,000 each, exclusive of VAT, for the privilege, the Association of British Insurers (ABI) has confirmed.
Managed by the ABI, on behalf of HM Treasury, a dashboard prototype is scheduled to be ready for testing by March 2017. The implementation for the full public-wide service has a 2019 deadline, which was set by the Treasury in March last year. With 17 pension and long-term savings firms already involved in developing the service, the ABI will have gathered £850,000 of funding from the contributors thus far. The contributor agreement, a copy of which has been seen by Professional Adviser, states any surplus on the project's budget will be returned to the 17 providers "pro-rata to their ...
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